Squarepoint Ops LLC Buys 121,530 Shares of Grindr Inc. (NYSE:GRND)

Squarepoint Ops LLC boosted its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 496,401 shares of the company's stock after acquiring an additional 121,530 shares during the quarter. Squarepoint Ops LLC owned 0.28% of Grindr worth $8,856,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BIT Capital GmbH grew its stake in Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock worth $71,165,000 after buying an additional 349,189 shares during the last quarter. Marshall Wace LLP grew its stake in Grindr by 85.2% during the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock worth $19,928,000 after buying an additional 513,770 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Grindr by 50.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 974,308 shares of the company's stock worth $17,382,000 after buying an additional 327,208 shares during the last quarter. Federated Hermes Inc. grew its stake in Grindr by 101.3% during the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock worth $15,450,000 after buying an additional 435,748 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Grindr by 37.0% during the fourth quarter. Nuveen Asset Management LLC now owns 792,916 shares of the company's stock worth $14,146,000 after purchasing an additional 214,102 shares in the last quarter. Institutional investors own 7.22% of the company's stock.

Insider Activity at Grindr

In related news, Director J Michael Gearon, Jr. sold 283,559 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $24.13, for a total value of $6,842,278.67. Following the completion of the transaction, the director now owns 6,336,168 shares of the company's stock, valued at approximately $152,891,733.84. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the transaction, the insider now directly owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This trade represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,585,752 shares of company stock valued at $61,590,079. Corporate insiders own 76.40% of the company's stock.

Analysts Set New Price Targets

GRND has been the subject of a number of research reports. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. The Goldman Sachs Group increased their price objective on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a report on Monday, April 21st. Finally, Raymond James reissued an "outperform" rating and set a $26.00 price objective (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $23.25.

Grindr Trading Up 3.5%

Shares of GRND stock traded up $0.83 during trading hours on Thursday, hitting $24.69. 846,364 shares of the company were exchanged, compared to its average volume of 1,749,403. The business has a 50 day moving average of $20.78 and a two-hundred day moving average of $18.22. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $25.08. The company has a market capitalization of $4.84 billion, a PE ratio of -70.45 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, research analysts forecast that Grindr Inc. will post 0.29 EPS for the current year.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.