Two Sigma Advisers LP Takes $784,000 Position in Grindr Inc. (NYSE:GRND)

Two Sigma Advisers LP purchased a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 43,948 shares of the company's stock, valued at approximately $784,000.

A number of other hedge funds have also modified their holdings of the business. Bleakley Financial Group LLC raised its position in Grindr by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after purchasing an additional 1,524 shares during the period. Savant Capital LLC grew its stake in shares of Grindr by 9.6% in the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after buying an additional 1,689 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Grindr in the 4th quarter valued at $1,649,000. Principal Financial Group Inc. raised its holdings in shares of Grindr by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 33,919 shares of the company's stock valued at $605,000 after buying an additional 3,341 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Grindr during the 4th quarter worth about $201,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director J Michael Gearon, Jr. sold 249,700 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $24.44, for a total transaction of $6,102,668.00. Following the completion of the sale, the director now owns 6,090,959 shares in the company, valued at approximately $148,863,037.96. The trade was a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Brooks Baer sold 2,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $23.98, for a total transaction of $47,960.00. Following the completion of the transaction, the director now owns 27,128 shares of the company's stock, valued at approximately $650,529.44. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,502,207 shares of company stock valued at $107,616,505 in the last ninety days. Insiders own 76.40% of the company's stock.

Wall Street Analyst Weigh In

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

Grindr Stock Up 1.3%

Grindr stock traded up $0.29 during trading on Thursday, reaching $23.32. The stock had a trading volume of 757,725 shares, compared to its average volume of 1,136,456. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $25.13. The stock has a market cap of $4.57 billion, a PE ratio of -66.63 and a beta of 0.28. The business has a 50 day moving average price of $21.38 and a 200 day moving average price of $18.55.

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

About Grindr

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.