Groupe la Francaise lessened its stake in shares of Grindr Inc. (NYSE:GRND – Free Report) by 80.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 30,000 shares of the company’s stock after selling 120,000 shares during the period. Groupe la Francaise’s holdings in Grindr were worth $363,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after purchasing an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr in the second quarter valued at $39,000. Caitong International Asset Management Co. Ltd acquired a new position in Grindr during the third quarter worth $26,000. CWM LLC raised its position in Grindr by 713.8% during the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock worth $40,000 after acquiring an additional 2,584 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Grindr during the fourth quarter worth $45,000. 7.22% of the stock is currently owned by institutional investors.
Grindr Trading Up 2.3%
Shares of NYSE:GRND opened at $17.34 on Friday. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.69. The business has a 50 day moving average of $14.08 and a 200-day moving average of $12.87. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30. The stock has a market cap of $3.08 billion, a PE ratio of 36.11 and a beta of 0.22.
Insider Activity at Grindr
In other news, insider Zachary Katz sold 12,800 shares of Grindr stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.28, for a total value of $208,384.00. Following the completion of the sale, the insider directly owned 713,323 shares in the company, valued at approximately $11,612,898.44. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,771 shares of company stock worth $531,075 over the last quarter. 60.90% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. TD Cowen reiterated a “buy” rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley raised Grindr from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $18.00 in a research report on Wednesday, July 1st. Raymond James Financial restated an “outperform” rating and issued a $18.00 price objective on shares of Grindr in a research note on Friday, May 8th. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Grindr presently has a consensus rating of “Moderate Buy” and an average target price of $19.20.
View Our Latest Stock Report on GRND
Grindr Company Profile
Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.
Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.
Featured Articles
- Five stocks we like better than Grindr
- Popular’s Earnings Beat Shows Why This Bank Stock Keeps Climbing
- ABB’s Rotork Deal Could Put These Flow Control Stocks Back in Focus
- GE HealthCare Stock Climbs on Vital Diagnostics Demand
- Lost in Space: Why Aerospace Valuations Are Plummeting Right Now
Want to see what other hedge funds are holding GRND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grindr Inc. (NYSE:GRND – Free Report).
Receive News & Ratings for Grindr Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grindr and related companies with MarketBeat.com's FREE daily email newsletter.
