PDT Partners LLC Acquires 72,554 Shares of Grindr Inc. $GRND

PDT Partners LLC grew its holdings in shares of Grindr Inc. (NYSE:GRND) by 78.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 165,269 shares of the company’s stock after buying an additional 72,554 shares during the period. PDT Partners LLC’s holdings in Grindr were worth $2,958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GRND. Nuveen LLC bought a new stake in shares of Grindr during the 1st quarter valued at $20,049,000. Woodline Partners LP bought a new stake in shares of Grindr during the 4th quarter valued at $7,436,000. Vanguard Group Inc. boosted its holdings in shares of Grindr by 23.5% during the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock valued at $30,690,000 after buying an additional 325,996 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in shares of Grindr by 251.8% during the 4th quarter. Voloridge Investment Management LLC now owns 451,000 shares of the company’s stock valued at $8,046,000 after buying an additional 322,792 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Grindr by 1,984.5% during the fourth quarter. Deutsche Bank AG now owns 283,701 shares of the company’s stock valued at $5,061,000 after buying an additional 270,091 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GRND shares. Raymond James Financial lowered their price objective on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. JMP Securities lowered their price objective on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, August 11th. 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, May 12th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Citizens Jmp started coverage on Grindr in a research note on Monday, June 30th. They set an “outperform” rating and a $27.00 price objective for the company. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.60.

Grindr Stock Down 0.6%

GRND stock opened at $15.61 on Tuesday. Grindr Inc. has a 1-year low of $11.47 and a 1-year high of $25.13. The business has a fifty day moving average price of $18.86 and a 200-day moving average price of $19.83. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48. The stock has a market capitalization of $3.00 billion, a P/E ratio of -35.48 and a beta of 0.25.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The business had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $104.40 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In related news, insider Zachary Katz sold 14,693 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the sale, the insider owned 595,112 shares in the company, valued at approximately $11,455,906. This represents a 2.41% 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, CFO Vandana Mehta-Krantz sold 56,611 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $23.47, for a total value of $1,328,660.17. Following the sale, the chief financial officer owned 752,594 shares of the company’s stock, valued at approximately $17,663,381.18. This trade represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,235 shares of company stock valued at $3,570,031 in the last 90 days. Company insiders own 67.70% of the company’s stock.

Grindr 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.