R Squared Ltd Invests $101,000 in Grindr Inc. (NYSE:GRND)

R Squared Ltd acquired a new stake in Grindr Inc. (NYSE:GRND) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,650 shares of the company’s stock, valued at approximately $101,000.

Several other hedge funds also recently bought and sold shares of GRND. SG Americas Securities LLC grew its position in shares of 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 purchasing an additional 91,077 shares in the last quarter. Graypoint LLC purchased a new stake in shares of Grindr in the fourth quarter worth $1,211,000. JPMorgan Chase & Co. boosted its stake in Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after buying an additional 93,005 shares during the period. Principal Financial Group Inc. purchased a new position in Grindr during the third quarter worth about $365,000. Finally, Lord Abbett & CO. LLC purchased a new position in Grindr during the third quarter worth about $7,720,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Stock Performance

Shares of GRND opened at $17.74 on Friday. Grindr Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $18.42. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -50.69 and a beta of 0.31. The firm has a 50 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 results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The business had revenue of $89.33 million for the quarter, compared to analysts’ expectations of $88.50 million. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. During the same quarter in the previous year, the company earned $0.06 earnings per share. As a group, equities research analysts predict that Grindr Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Grindr news, insider Zachary Katz sold 3,058 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $16.40, for a total value of $50,151.20. Following the transaction, the insider now owns 580,606 shares in the company, valued at approximately $9,521,938.40. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nathan Richardson sold 5,234 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.00, for a total transaction of $78,510.00. Following the sale, the director now owns 27,408 shares of the company’s stock, valued at approximately $411,120. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,399,000 shares of company stock worth $36,303,532 in the last ninety days. 76.40% of the stock is owned by 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.