Grindr Inc. (NYSE:GRND) Shares Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 251.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,000 shares of the company's stock after purchasing an additional 322,792 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.26% of Grindr worth $8,046,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Grindr by 140.5% in the fourth quarter. SG Americas Securities LLC now owns 155,893 shares of the company's stock valued at $2,781,000 after buying an additional 91,077 shares in the last quarter. R Squared Ltd bought a new stake in shares of Grindr in the fourth quarter valued at about $101,000. Bleakley Financial Group LLC lifted its position in Grindr by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after purchasing an additional 1,524 shares during the period. Savant Capital LLC lifted its holdings in shares of Grindr by 9.6% in the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Grindr in the fourth quarter worth about $1,649,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now owns 613,800 shares in the company, valued at approximately $9,961,974. The trade was a 0.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,619,727 shares of the company's stock, valued at $156,953,727.17. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,997,772 shares of company stock valued at $95,317,638 in the last ninety days. Corporate insiders own 76.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Grindr Price Performance

GRND stock traded down $0.33 during midday trading on Friday, hitting $24.21. The stock had a trading volume of 569,004 shares, compared to its average volume of 1,110,049. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $25.08. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of -69.28 and a beta of 0.28. The business has a 50-day moving average of $20.91 and a two-hundred day moving average of $18.28.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results 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 return on equity of 177.83% and a negative net margin of 16.27%. Research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Grindr 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.