Occudo Quantitative Strategies LP Buys 17,666 Shares of Grindr Inc. (NYSE:GRND)

Occudo Quantitative Strategies LP grew its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 103.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,797 shares of the company's stock after acquiring an additional 17,666 shares during the period. Occudo Quantitative Strategies LP's holdings in Grindr were worth $621,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bwcp LP bought a new stake in shares of Grindr in the fourth quarter valued at $12,088,000. Sellaronda Global Management LP purchased a new stake in shares of Grindr in the fourth quarter worth about $10,704,000. Marshall Wace LLP boosted its position in shares of Grindr by 85.2% in the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after acquiring an additional 513,770 shares during the period. Federated Hermes Inc. lifted its stake in Grindr by 101.3% in the 4th quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock worth $15,450,000 after purchasing an additional 435,748 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Grindr in the 4th quarter valued at $7,230,000. 7.22% of the stock is owned by institutional investors.

Grindr Stock Performance

Shares of GRND stock traded down $0.02 on Friday, hitting $23.49. 1,780,020 shares of the company's stock traded hands, compared to its average volume of 1,070,900. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of -67.12 and a beta of 0.28. The company's fifty day simple moving average is $19.64 and its 200 day simple moving average is $17.70. Grindr Inc. has a one year low of $8.95 and a one year high of $24.80.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. The Goldman Sachs Group increased their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Raymond James reissued an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grindr presently has an average rating of "Buy" and an average price target of $23.25.

Insider Activity

In related news, Director James Fu Bin Lu sold 480,770 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $23.78, for a total transaction of $11,432,710.60. Following the transaction, the director now owns 27,610,198 shares in the company, valued at $656,570,508.44. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the 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 completion of the sale, the director now owns 6,619,727 shares of the company's stock, valued at approximately $156,953,727.17. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,470,198 shares of company stock valued at $35,043,865. 76.40% of the stock is currently owned by company 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.