Two Sigma Investments LP lessened its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 296,635 shares of the company's stock after selling 77,924 shares during the period. Two Sigma Investments LP owned about 0.17% of Grindr worth $5,292,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after buying an additional 642 shares in the last quarter. Quarry LP raised its stake in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after buying an additional 2,316 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Grindr by 511.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after buying an additional 3,880 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Grindr in the fourth quarter worth approximately $89,000. Finally, R Squared Ltd bought a new position in Grindr in the fourth quarter worth approximately $101,000. Institutional investors own 7.22% of the company's stock.
Insider Activity
In other news, Director Daniel Brooks Baer sold 2,000 shares of the business'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 sale, the director now directly owns 27,128 shares of the company's stock, valued at $650,529.44. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 852,567 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $23.93, for a total transaction of $20,401,928.31. Following the sale, the director now directly owns 26,588,867 shares in the company, valued at $636,271,587.31. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,002,207 shares of company stock valued at $95,424,038 over the last ninety days. 76.40% of the stock is currently owned by insiders.
Grindr Trading Down 0.5%
Shares of GRND stock traded down $0.13 during trading hours on Friday, reaching $24.40. 1,739,215 shares of the company's stock were exchanged, compared to its average volume of 1,117,367. The stock's 50 day moving average is $21.03 and its 200-day moving average is $18.35. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -69.71 and a beta of 0.28. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $25.08.
Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. Equities analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on GRND. Raymond James reissued an "outperform" rating and issued a $26.00 price objective (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research report on Monday, April 21st. The Goldman Sachs Group upped their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Grindr currently has a consensus rating of "Buy" and a consensus price target of $23.25.
Check Out Our Latest Analysis on GRND
Grindr Company Profile
(
Free Report)
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.
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