Squarepoint Ops LLC Buys 189,237 Shares of Grindr Inc. (NYSE:GRND)

Squarepoint Ops LLC grew its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 264.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,814 shares of the company's stock after purchasing an additional 189,237 shares during the quarter. Squarepoint Ops LLC owned about 0.15% of Grindr worth $3,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Park West Asset Management LLC bought a new stake in Grindr in the fourth quarter worth approximately $1,652,000. GSA Capital Partners LLP bought a new stake in shares of Grindr in the 1st quarter valued at $545,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Grindr during the 1st quarter valued at $209,000. Vanguard Group Inc. boosted its stake in Grindr by 5.7% during the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company's stock worth $5,778,000 after acquiring an additional 30,574 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Grindr by 16.5% in 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. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Activity

In other Grindr news, CAO Kye Chen sold 16,187 shares of Grindr stock in a transaction on Friday, September 6th. The shares were sold at an average price of $11.68, for a total transaction of $189,064.16. Following the transaction, the chief accounting officer now directly owns 138,604 shares of the company's stock, valued at approximately $1,618,894.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 76.40% of the company's stock.

Grindr Stock Performance

Shares of Grindr stock traded down $0.03 during trading hours on Wednesday, reaching $11.75. The company's stock had a trading volume of 257,329 shares, compared to its average volume of 523,921. The company has a market capitalization of $2.07 billion, a P/E ratio of -65.27 and a beta of 0.35. The stock's fifty day simple moving average is $11.82 and its two-hundred day simple moving average is $10.88. Grindr Inc. has a one year low of $5.69 and a one year high of $12.83.

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

Analyst Ratings Changes

GRND has been the topic of several research reports. TD Cowen upped their price objective 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 reaffirmed a "market outperform" rating and set a $17.00 price target on shares of Grindr in a research note on Monday, July 15th. Finally, Raymond James increased their price target on Grindr from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Thursday, June 27th.

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.