Grindr Inc. (NYSE:GRND) Shares Sold by Numerai GP LLC

Numerai GP LLC trimmed its stake in Grindr Inc. (NYSE:GRND - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 233,710 shares of the company's stock after selling 113,788 shares during the period. Grindr makes up approximately 1.1% of Numerai GP LLC's portfolio, making the stock its 6th biggest holding. Numerai GP LLC owned approximately 0.13% of Grindr worth $4,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock worth $2,772,000 after acquiring an additional 93,005 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Grindr by 11.7% in the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock worth $1,703,000 after buying an additional 9,968 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after acquiring an additional 623 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Grindr by 140.5% during the 4th quarter. SG Americas Securities LLC now owns 155,893 shares of the company's stock valued at $2,781,000 after acquiring an additional 91,077 shares during the period. Finally, Barclays PLC grew its position in Grindr by 106.8% during the 3rd quarter. Barclays PLC now owns 72,580 shares of the company's stock worth $865,000 after acquiring an additional 37,477 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred 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 transaction, the insider now directly owns 613,800 shares of the company's stock, valued at $9,961,974. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Fu Bin Lu sold 200,811 shares of Grindr stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $24.05, for a total value of $4,829,504.55. Following the completion of the transaction, the director now owns 28,082,445 shares in the company, valued at $675,382,802.25. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,470,198 shares of company stock worth $35,043,865 over the last quarter. Company insiders own 76.40% of the company's stock.

Grindr Price Performance

Shares of NYSE GRND traded down $0.02 during mid-day trading on Friday, reaching $23.49. The company's stock had a trading volume of 1,780,020 shares, compared to its average volume of 1,068,228. The stock has a fifty day moving average of $19.49 and a two-hundred day moving average of $17.60. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $24.80. The firm has a market capitalization of $4.89 billion, a PE ratio of -67.12 and a beta of 0.28.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GRND. The Goldman Sachs Group boosted their price objective on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday. Raymond James reaffirmed an "outperform" rating and set a $26.00 target price (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. Finally, JMP Securities reissued a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research report on Monday, April 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr presently has a consensus rating of "Buy" and a consensus target price of $23.25.

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.