Grindr Inc. (NYSE:GRND) Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft reduced its stake in shares of Grindr Inc. (NYSE:GRND) by 42.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,290 shares of the company’s stock after selling 12,710 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Grindr were worth $308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRND. Lord Abbett & CO. LLC acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $7,720,000. Point72 Asset Management L.P. grew its holdings in Grindr by 219.9% during the third 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 period. Skye Global Management LP raised its holdings in shares of Grindr by 23.3% in the 3rd quarter. Skye Global Management LP now owns 592,000 shares of the company’s stock worth $7,063,000 after purchasing an additional 112,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock worth $2,772,000 after acquiring an additional 93,005 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Grindr by 140.5% in the 4th quarter. SG Americas Securities LLC now owns 155,893 shares of the company’s stock worth $2,781,000 after purchasing an additional 91,077 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Grindr Stock Down 1.6 %

Shares of GRND opened at $17.74 on Friday. The stock’s fifty day simple moving average is $16.74 and its 200-day simple moving average is $13.95. Grindr Inc. has a 12-month low of $7.93 and a 12-month high of $18.42.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. The firm had revenue of $89.33 million during the quarter, compared to analyst estimates of $88.50 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Insider Activity

In other news, Director James Fu Bin Lu sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.14, for a total value of $11,355,000.00. Following the transaction, the director now owns 31,540,655 shares of the company’s stock, valued at approximately $477,525,516.70. This 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 can be accessed through this link. Also, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the completion of the sale, the insider now owns 586,722 shares of the company’s stock, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,399,000 shares of company stock worth $36,303,532 over the last ninety days. Insiders own 76.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. 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. The Goldman Sachs Group began coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price for the company. TD Cowen raised 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research report on Monday, December 16th.

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.