Grindr Inc. (NYSE:GRND) Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC grew its position in shares of Grindr Inc. (NYSE:GRND) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,816 shares of the company’s stock after buying an additional 6,168 shares during the quarter. SG Americas Securities LLC’s holdings in Grindr were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased 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 worth $120,000 after buying an additional 1,667 shares during the period. Point72 DIFC Ltd acquired a new position in Grindr in the second quarter worth $136,000. Quest Partners LLC boosted its stake in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Grindr during the second quarter valued at $189,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Grindr during the first quarter valued at $209,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Price Performance

NYSE:GRND opened at $12.66 on Friday. The stock has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $10.98. Grindr Inc. has a 1-year low of $5.71 and a 1-year high of $13.25.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $82.35 million during the quarter, compared to analysts’ expectations of $77.40 million. Grindr had a negative return on equity of 234.28% and a negative net margin of 25.67%. On average, research analysts forecast that Grindr Inc. will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other Grindr news, CAO Kye Chen sold 4,964 shares of Grindr 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 transaction, the chief accounting officer now directly owns 130,598 shares of the company’s stock, valued at $1,542,362.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 26,115 shares of company stock worth $306,314 in the last 90 days. Company insiders own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.