UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49,559 shares of the company's stock, valued at approximately $884,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after acquiring an additional 642 shares during the last quarter. Quarry LP grew its holdings in shares of Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after purchasing an additional 3,880 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Grindr during the fourth quarter worth about $89,000. Finally, Polymer Capital Management HK LTD bought a new stake in shares of Grindr during the fourth quarter worth about $178,000. Institutional investors own 7.22% of the company's stock.
Insider Buying and Selling
In other Grindr news, Director J Michael Gearon, Jr. sold 500,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $23.71, for a total value of $11,855,000.00. Following the transaction, the director now directly owns 6,619,727 shares of the company's stock, valued at approximately $156,953,727.17. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Brooks Baer sold 2,435 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $24.00, for a total value of $58,440.00. Following the completion of the transaction, the director now directly owns 24,693 shares in the company, valued at approximately $592,632. This trade represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,517,581 shares of company stock valued at $108,031,475 over the last ninety days. 76.40% of the stock is owned by company insiders.
Grindr Price Performance
Shares of Grindr stock traded down $0.13 during midday trading on Friday, reaching $22.99. The company had a trading volume of 1,003,579 shares, compared to its average volume of 1,155,924. The stock has a fifty day moving average price of $22.14 and a 200 day moving average price of $18.95. The firm has a market cap of $4.50 billion, a PE ratio of -65.67 and a beta of 0.31. Grindr Inc. has a fifty-two week low of $9.42 and a fifty-two week high of $25.13.
Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, sell-side analysts forecast that Grindr Inc. will post 0.29 EPS for the current year.
Analyst Ratings Changes
GRND has been the topic of several research reports. Raymond James restated an "outperform" rating and set a $26.00 price target (up from $22.00) on shares of Grindr in a report on Friday, May 9th. The Goldman Sachs Group boosted their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $24.00 price target on shares of Grindr in a report on Monday, April 21st. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $23.25.
Check Out Our Latest Research Report 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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