Fund 1 Investments LLC Boosts Stock Holdings in Grindr Inc. (NYSE:GRND)

Fund 1 Investments LLC raised its holdings in shares of Grindr Inc. (NYSE:GRND) by 261.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 299,765 shares of the company’s stock after acquiring an additional 216,765 shares during the quarter. Fund 1 Investments LLC’s holdings in Grindr were worth $5,348,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in Grindr by 106.8% in the 3rd quarter. Barclays PLC now owns 72,580 shares of the company’s stock valued at $865,000 after purchasing an additional 37,477 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Grindr by 66.7% in 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 in the last quarter. Graypoint LLC purchased a new stake in shares of Grindr during the 4th quarter valued at about $1,211,000. SG Americas Securities LLC lifted its position in Grindr by 140.5% during the 4th quarter. SG Americas Securities LLC now owns 155,893 shares of the company’s stock worth $2,781,000 after acquiring an additional 91,077 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Grindr in the 4th quarter worth approximately $101,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the transaction, the insider now directly owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. This represents a 0.50 % 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 the SEC website. Insiders sold a total of 8,115 shares of company stock valued at $139,397 over the last 90 days. 76.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GRND has been the topic of a number of analyst reports. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. Finally, Raymond James restated an “outperform” rating and set a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday. Five research 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 target price of $21.75.

Grindr Stock Performance

Shares of Grindr stock opened at $23.96 on Friday. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $24.80. The firm’s 50-day simple moving average is $18.89 and its 200-day simple moving average is $17.31. The firm has a market cap of $4.99 billion, a PE ratio of -68.46 and a beta of 0.28.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. On average, equities analysts predict that Grindr Inc. will post 0.29 earnings per share for the current 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.