Quantbot Technologies LP Has $7.22 Million Position in Grindr Inc. $GRND

Quantbot Technologies LP boosted its holdings in shares of Grindr Inc. (NYSE:GRND) by 53.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,248 shares of the company’s stock after buying an additional 111,366 shares during the period. Quantbot Technologies LP owned approximately 0.16% of Grindr worth $7,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp purchased a new position in Grindr during the 2nd quarter valued at about $533,000. New York State Common Retirement Fund lifted its position in shares of Grindr by 36.7% in the second quarter. New York State Common Retirement Fund now owns 12,504 shares of the company’s stock worth $284,000 after purchasing an additional 3,358 shares in the last quarter. Norges Bank acquired a new stake in shares of Grindr during the second quarter worth approximately $16,618,000. NINE MASTS CAPITAL Ltd purchased a new position in Grindr during the second quarter valued at approximately $7,171,000. Finally, Quadrature Capital Ltd grew its position in Grindr by 168.0% during the second quarter. Quadrature Capital Ltd now owns 39,985 shares of the company’s stock valued at $908,000 after purchasing an additional 25,063 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Zachary Katz sold 29,383 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $12.52, for a total value of $367,875.16. Following the completion of the transaction, the insider directly owned 461,137 shares in the company, valued at approximately $5,773,435.24. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Raymond Zage III purchased 150,000 shares of the stock in a transaction on Monday, December 1st. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $1,936,500.00. Following the acquisition, the director directly owned 1,210,507 shares in the company, valued at approximately $15,627,645.37. This trade represents a 14.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 1,300,000 shares of company stock worth $17,018,500 and have sold 3,879,539 shares worth $52,694,016. 67.70% of the stock is currently owned by company insiders.

Grindr Stock Up 0.9%

GRND opened at $12.96 on Wednesday. The business has a 50 day moving average of $13.80 and a 200-day moving average of $17.57. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -35.03 and a beta of 0.23. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a 1-year low of $11.73 and a 1-year high of $25.13.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business had revenue of $115.77 million during the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Grindr in a report on Monday. Raymond James Financial dropped their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Citizens Jmp reduced their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Finally, JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.50.

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.