Bleakley Financial Group LLC Purchases 2,371 Shares of Grindr Inc. (NYSE:GRND)

Bleakley Financial Group LLC raised its stake in Grindr Inc. (NYSE:GRND) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,188 shares of the company’s stock after acquiring an additional 2,371 shares during the period. Bleakley Financial Group LLC’s holdings in Grindr were worth $324,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Grindr during the third quarter valued at $27,000. Price T Rowe Associates Inc. MD raised its position in shares of Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Grindr during the second quarter worth about $136,000. Quest Partners LLC raised its position in Grindr by 9,055.0% in the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after buying an additional 12,677 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Grindr in the 2nd quarter valued at approximately $189,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GRND shares. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Grindr in a report on Monday, July 15th. TD Cowen upped their price objective on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James upped their price objective on Grindr from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th.

Insiders Place Their Bets

In other Grindr news, CAO Kye Chen sold 4,964 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $11.81, for a total value of $58,624.84. Following the completion of the sale, the chief accounting officer now directly owns 130,598 shares of the company’s stock, valued at $1,542,362.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 27,115 shares of company stock valued at $318,994 over the last ninety days. 76.40% of the stock is currently owned by insiders.

Grindr Stock Performance

Shares of NYSE:GRND opened at $13.74 on Wednesday. The business’s 50 day simple moving average is $12.13 and its two-hundred day simple moving average is $11.09. The firm has a market cap of $2.42 billion, a P/E ratio of -31.22 and a beta of 0.35. Grindr Inc. has a 52-week low of $5.71 and a 52-week high of $13.90.

Grindr (NYSE:GRND) last posted its earnings results 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. The company had revenue of $82.35 million for the quarter, compared to analyst estimates of $77.40 million. Grindr had a negative return on equity of 234.28% and a negative net margin of 25.67%. On average, equities analysts forecast that Grindr Inc. will post 0.25 earnings per share for the current fiscal year.

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.