UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $884,000 in Grindr Inc. (NYSE:GRND)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Grindr Inc. (NYSE:GRND) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 49,559 shares of the company’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Voloridge Investment Management LLC raised its position in shares of Grindr by 251.8% during the fourth quarter. Voloridge Investment Management LLC now owns 451,000 shares of the company’s stock worth $8,046,000 after acquiring an additional 322,792 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Grindr during the fourth quarter worth $7,436,000. Squarepoint Ops LLC raised its position in shares of Grindr by 32.4% during the fourth quarter. Squarepoint Ops LLC now owns 496,401 shares of the company’s stock worth $8,856,000 after acquiring an additional 121,530 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Grindr in the fourth quarter valued at about $784,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Grindr by 511.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock valued at $83,000 after purchasing an additional 3,880 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Insider Activity at Grindr

In other Grindr news, Director J Michael Gearon, Jr. sold 107,002 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $23.50, for a total transaction of $2,514,547.00. Following the transaction, the director now owns 5,977,570 shares in the company, valued at $140,472,895. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Fu Bin Lu sold 480,770 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $23.78, for a total value of $11,432,710.60. Following the transaction, the director now owns 27,610,198 shares in the company, valued at approximately $656,570,508.44. This trade represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,518,581 shares of company stock valued at $108,047,815. Insiders own 76.40% of the company’s stock.

Grindr Trading Down 0.9%

NYSE:GRND opened at $23.02 on Wednesday. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $25.13. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -65.76 and a beta of 0.31. The stock has a 50-day moving average price of $21.78 and a two-hundred day moving average price of $18.81.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. Sell-side analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Raymond James reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Citigroup reiterated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. The Goldman Sachs Group upped their price objective on Grindr from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. Finally, Wall Street Zen upgraded Grindr from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grindr presently has an average rating of “Buy” and a consensus target price of $23.25.

Grindr Company 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.