Squarepoint Ops LLC Has $3.19 Million Position in Grindr Inc. (NYSE:GRND)

Squarepoint Ops LLC lifted its holdings in Grindr Inc. (NYSE:GRND) by 264.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 260,814 shares of the company’s stock after purchasing an additional 189,237 shares during the period. Squarepoint Ops LLC owned 0.15% of Grindr worth $3,192,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Marshall Wace LLP grew its holdings in Grindr by 124.0% in the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after buying an additional 347,626 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Grindr by 5.7% in the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after acquiring an additional 30,574 shares during the last quarter. Federated Hermes Inc. bought a new position in Grindr during the second quarter worth $3,640,000. Discovery Capital Management LLC CT acquired a new position in Grindr during the 2nd quarter valued at $3,179,000. Finally, Yarra Square Partners LP bought a new stake in Grindr in the 2nd quarter valued at $3,005,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

GRND has been the topic of several research reports. TD Cowen boosted their price objective on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James boosted their price target on Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Grindr in a research report on Monday, July 15th.

Insider Buying and Selling at Grindr

In other Grindr news, CAO Kye Chen sold 16,187 shares of Grindr stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.68, for a total transaction of $189,064.16. Following the completion of the transaction, the chief accounting officer now directly owns 138,604 shares of the company’s stock, valued at $1,618,894.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 76.40% of the company’s stock.

Grindr Price Performance

Shares of Grindr stock opened at $11.78 on Wednesday. The company’s fifty day moving average price is $11.81 and its two-hundred day moving average price is $10.87. The firm has a market capitalization of $2.07 billion, a PE ratio of -65.44 and a beta of 0.35. Grindr Inc. has a 52-week low of $5.69 and a 52-week high of $12.83.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Grindr had a negative return on equity of 234.28% and a negative net margin of 25.67%. The company had revenue of $82.35 million for the quarter, compared to the consensus estimate of $77.40 million. Analysts predict that Grindr Inc. will post 0.25 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.