37,475 Shares in Grindr Inc. $GRND Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in Grindr Inc. (NYSE:GRND) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 37,475 shares of the company’s stock, valued at approximately $851,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRND. GAMMA Investing LLC raised its position in Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after acquiring an additional 662 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Grindr in the first quarter worth about $197,000. Allspring Global Investments Holdings LLC raised its position in Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company’s stock worth $1,808,000 after acquiring an additional 5,265 shares in the last quarter. Bank of New York Mellon Corp raised its position in Grindr by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company’s stock worth $967,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in Grindr in the first quarter worth about $1,955,000. 7.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on GRND shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Raymond James Financial dropped their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, JMP Securities cut their price objective on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 7,645 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $12.83, for a total value of $98,085.35. Following the transaction, the insider owned 548,339 shares in the company, valued at $7,035,189.37. This represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $13.15, for a total value of $13,150,000.00. Following the completion of the transaction, the director owned 25,588,867 shares in the company, valued at $336,493,601.05. This represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,361,854 shares of company stock worth $30,730,410 over the last quarter. Company insiders own 67.70% of the company’s stock.

Grindr Price Performance

NYSE GRND opened at $13.64 on Tuesday. The stock’s 50-day moving average price is $14.64 and its two-hundred day moving average price is $18.85. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The company has a market cap of $2.62 billion, a PE ratio of -30.99 and a beta of 0.22. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.Grindr’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

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.