Marshall Wace LLP Buys 347,626 Shares of Grindr Inc. (NYSE:GRND)

Marshall Wace LLP raised its stake in Grindr Inc. (NYSE:GRND) by 124.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 627,879 shares of the company’s stock after acquiring an additional 347,626 shares during the period. Marshall Wace LLP’s holdings in Grindr were worth $7,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GRND. Price T Rowe Associates Inc. MD lifted its position in Grindr by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Grindr by 9,055.0% during the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after purchasing an additional 12,677 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Grindr during the first quarter valued at $209,000. Hsbc Holdings PLC increased its holdings in Grindr by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after buying an additional 2,050 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in Grindr in the 2nd quarter worth about $303,000. 7.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Grindr Stock Down 1.0 %

Shares of Grindr stock opened at $11.93 on Tuesday. The stock’s fifty day moving average is $11.81 and its 200 day moving average is $10.86. Grindr Inc. has a one year low of $5.69 and a one year high of $12.83.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $82.35 million for the quarter, compared to the consensus estimate 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 expect that Grindr Inc. will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kye Chen sold 16,187 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $11.68, for a total value of $189,064.16. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. 76.40% of the stock is owned by company insiders.

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.