Harvest Fund Management Co. Ltd Sells 51,463 Shares of Grindr Inc. (NYSE:GRND)

Harvest Fund Management Co. Ltd reduced its stake in Grindr Inc. (NYSE:GRND) by 96.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,641 shares of the company’s stock after selling 51,463 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Grindr were worth $29,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GRND. CWM LLC grew its position in shares of Grindr by 838.5% during 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 boosted its position in shares of Grindr by 45.5% during the 1st 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. Russell Investments Group Ltd. boosted its position in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after acquiring an additional 642 shares in the last quarter. Quarry LP boosted its position in shares of Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company’s stock worth $61,000 after acquiring an additional 2,316 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Grindr by 511.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock worth $83,000 after acquiring an additional 3,880 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRND. Citizens Jmp began coverage on shares of Grindr in a research report on Monday, June 30th. They set an “outperform” rating and a $27.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. JMP Securities increased their price target on shares of Grindr from $24.00 to $27.00 and gave the stock a “market outperform” rating in a research report on Monday, June 30th. Wall Street Zen upgraded shares of Grindr from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $24.60.

Insider Buying and Selling at Grindr

In other news, Director James Fu Bin Lu sold 852,567 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $23.93, for a total transaction of $20,401,928.31. Following the completion of the transaction, the director owned 26,588,867 shares of the company’s stock, valued at approximately $636,271,587.31. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $23.71, for a total transaction of $11,855,000.00. Following the transaction, the director directly owned 6,619,727 shares of the company’s stock, valued at $156,953,727.17. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,641,251 shares of company stock valued at $110,831,024 in the last ninety days. Insiders own 67.70% of the company’s stock.

Grindr Stock Performance

Shares of Grindr stock opened at $17.37 on Friday. Grindr Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.22 and a quick ratio of 4.22. The firm has a market capitalization of $3.40 billion, a P/E ratio of -26.72 and a beta of 0.28. The company’s 50 day moving average price is $21.80 and its two-hundred day moving average price is $20.00.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. On average, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal 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.