Tredje AP fonden Invests $956,000 in Grindr Inc. $GRND

Tredje AP fonden bought a new position in shares of Grindr Inc. (NYSE:GRND) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,131 shares of the company’s stock, valued at approximately $956,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRND. CWM LLC grew its position in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after purchasing an additional 1,719 shares in the last quarter. GAMMA Investing LLC grew its position in Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after purchasing an additional 662 shares in the last quarter. USA Financial Formulas bought a new stake in Grindr in the 2nd quarter worth about $83,000. KLP Kapitalforvaltning AS grew its position in Grindr by 46.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock worth $166,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Grindr in the 1st quarter worth about $197,000. 7.22% of the stock is owned by institutional investors.

Insider Activity

In other Grindr news, CFO Vandana Mehta-Krantz sold 43,565 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $16.89, for a total value of $735,812.85. Following the sale, the chief financial officer directly owned 688,047 shares in the company, valued at $11,621,113.83. This represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 250,000 shares of the stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $13.13, for a total transaction of $3,282,500.00. Following the completion of the sale, the director owned 23,888,867 shares in the company, valued at $313,660,823.71. This represents a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,361,854 shares of company stock valued at $30,730,410. 67.70% of the stock is owned by company insiders.

Grindr Stock Performance

Shares of GRND stock opened at $13.64 on Tuesday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -30.99 and a beta of 0.22. 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 firm’s 50 day moving average is $14.64 and its 200 day moving average is $18.85. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13.

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

Analyst Ratings Changes

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. Raymond James Financial reduced their price objective on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Finally, JMP Securities reduced their price objective 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 research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Grindr has an average rating of “Moderate Buy” and an average price target of $22.60.

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.