SG Americas Securities LLC Purchases 91,077 Shares of Grindr Inc. (NYSE:GRND)

SG Americas Securities LLC lifted its position in Grindr Inc. (NYSE:GRND) by 140.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,893 shares of the company’s stock after purchasing an additional 91,077 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Grindr worth $2,781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Grindr in the 3rd quarter worth about $27,000. Point72 DIFC Ltd bought a new position in shares of Grindr in the second quarter worth approximately $136,000. Centiva Capital LP purchased a new stake in Grindr in the third quarter valued at approximately $160,000. The Manufacturers Life Insurance Company lifted its position in Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Grindr in the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GRND shares. The Goldman Sachs Group began coverage on shares of Grindr in a research report on Monday, December 16th. They set a “buy” rating and a $20.00 price objective on the stock. TD Cowen lifted their price target on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research report on Monday, December 16th. Finally, Raymond James restated an “outperform” rating and issued a $21.00 target price (up previously from $19.00) on shares of Grindr in a research report on Friday.

Insider Activity at Grindr

In other Grindr news, Director James Fu Bin Lu sold 692,211 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $15.37, for a total value of $10,639,283.07. Following the completion of the sale, the director now owns 32,968,400 shares in the company, valued at approximately $506,724,308. This trade represents a 2.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Zachary Katz sold 3,058 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the transaction, the insider now directly owns 586,722 shares in the company, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,399,000 shares of company stock worth $36,303,532 in the last three months. 76.40% of the stock is owned by insiders.

Grindr Trading Up 7.8 %

Shares of NYSE:GRND opened at $18.03 on Friday. The stock has a market capitalization of $3.18 billion, a P/E ratio of -51.51 and a beta of 0.31. The stock’s 50-day moving average price is $16.49 and its 200-day moving average price is $13.80. Grindr Inc. has a 12-month low of $7.93 and a 12-month high of $18.42.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $89.33 million during the quarter, compared to analysts’ expectations of $88.50 million. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. During the same period last year, the firm earned $0.06 earnings per share. As a group, research analysts predict that Grindr Inc. will post 0.28 EPS for the current 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.