Hsbc Holdings PLC Has $286,000 Stock Holdings in Grindr Inc. (NYSE:GRND)

Hsbc Holdings PLC increased its position in shares of Grindr Inc. (NYSE:GRND) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,632 shares of the company’s stock after buying an additional 2,050 shares during the period. Hsbc Holdings PLC’s holdings in Grindr were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $120,000 after purchasing an additional 1,667 shares during the period. Quest Partners LLC raised its holdings in shares of Grindr by 9,055.0% in 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 during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Grindr during the first quarter worth about $209,000. Simplicity Wealth LLC bought a new stake in Grindr in the 2nd quarter worth about $303,000. Finally, GSA Capital Partners LLP purchased a new stake in Grindr in the 1st quarter valued at about $545,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Grindr

In other 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 value of $189,064.16. Following the completion of the transaction, the chief accounting officer now directly owns 138,604 shares in the company, valued at $1,618,894.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 76.40% of the company’s stock.

Analysts Set New Price Targets

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

Grindr Stock Performance

GRND stock opened at $11.76 on Friday. The stock has a fifty day moving average of $11.82 and a 200-day moving average of $10.88. Grindr Inc. has a fifty-two week low of $5.69 and a fifty-two week high of $12.83. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -65.33 and a beta of 0.35.

Grindr (NYSE:GRND) last posted its 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 firm had revenue of $82.35 million during the quarter, compared to the consensus estimate of $77.40 million. Grindr had a negative net margin of 25.67% and a negative return on equity of 234.28%. Equities analysts predict that Grindr Inc. will post 0.25 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.