Graham Capital Management L.P. Raises Holdings in Grindr Inc. (NYSE:GRND)

Graham Capital Management L.P. grew its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 46.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,829 shares of the company's stock after acquiring an additional 12,931 shares during the quarter. Graham Capital Management L.P.'s holdings in Grindr were worth $728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock valued at $2,772,000 after purchasing an additional 93,005 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Grindr by 11.7% during the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock worth $1,703,000 after purchasing an additional 9,968 shares during the period. Bank of New York Mellon Corp boosted its position in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares during the last quarter. SG Americas Securities LLC boosted its position 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 during the last quarter. Finally, Barclays PLC increased its holdings in Grindr by 106.8% in the 3rd quarter. Barclays PLC now owns 72,580 shares of the company's stock worth $865,000 after buying an additional 37,477 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on GRND. Citigroup restated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities restated a "market outperform" rating and set a $24.00 target price on shares of Grindr in a research report on Monday, April 21st. Raymond James reaffirmed an "outperform" rating and issued a $26.00 price target (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Finally, The Goldman Sachs Group lifted their price objective on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $23.25.

Grindr Price Performance

Shares of NYSE GRND opened at $24.05 on Thursday. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -68.71 and a beta of 0.28. The firm's 50 day simple moving average is $19.33 and its 200-day simple moving average is $17.53. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $24.80.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (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%. Analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on 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 in the company, valued at approximately $9,961,974. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Fu Bin Lu sold 480,770 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $23.78, for a total transaction of $11,432,710.60. Following the transaction, the director now directly owns 27,610,198 shares in the company, valued at approximately $656,570,508.44. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 485,828 shares of company stock valued at $11,517,082 in the last ninety days. 76.40% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.