R Squared Ltd Acquires Shares of 5,650 Grindr Inc. (NYSE:GRND)

R Squared Ltd bought a new position in shares of Grindr Inc. (NYSE:GRND) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,650 shares of the company’s stock, valued at approximately $101,000.

A number of other large investors also recently modified their holdings of GRND. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 93,005 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Grindr by 219.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after acquiring an additional 123,600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Grindr by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after acquiring an additional 17,678 shares in the last quarter. Graypoint LLC acquired a new position in Grindr during the 4th quarter valued at about $1,211,000. Finally, Principal Financial Group Inc. bought a new stake in Grindr during the 3rd quarter worth approximately $365,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on GRND. The Goldman Sachs Group initiated coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. TD Cowen lifted their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a report on Monday, December 16th. Finally, Raymond James restated an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Grindr in a report on Friday, January 24th.

Insider Buying and Selling

In other news, Director James Fu Bin Lu sold 750,000 shares of Grindr stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total value of $11,355,000.00. Following the completion of the transaction, the director now owns 31,540,655 shares in the company, valued at $477,525,516.70. This trade represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the sale, the insider now owns 586,722 shares in the company, valued at $8,390,124.60. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,399,000 shares of company stock valued at $36,303,532. 76.40% of the stock is owned by company insiders.

Grindr Price Performance

Shares of Grindr stock opened at $17.74 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of -50.69 and a beta of 0.31. Grindr Inc. has a 1 year low of $7.93 and a 1 year high of $18.42. The stock has a fifty day moving average price of $16.74 and a 200-day moving average price of $13.95.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $89.33 million for the quarter, compared to analysts’ expectations of $88.50 million. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. During the same quarter last year, the business posted $0.06 EPS. As a group, equities analysts anticipate that Grindr Inc. will post 0.28 EPS for the current fiscal year.

About Grindr

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.