Federated Hermes Inc. Increases Position in Grindr Inc. $GRND

Federated Hermes Inc. increased its position in shares of Grindr Inc. (NYSE:GRND) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 978,287 shares of the company’s stock after purchasing an additional 78,375 shares during the period. Federated Hermes Inc.’s holdings in Grindr were worth $22,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GRND. CWM LLC lifted its holdings in Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after buying an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after acquiring an additional 762 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Grindr by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after acquiring an additional 1,002 shares in the last quarter. Rhumbline Advisers lifted its stake in Grindr by 3.0% during the first quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock worth $770,000 after purchasing an additional 1,272 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GRND shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Grindr in a report on Monday. Citizens Jmp cut their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Finally, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Grindr currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Transactions at Grindr

In other Grindr news, insider Zachary Katz sold 29,383 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $12.52, for a total transaction of $367,875.16. Following the completion of the transaction, the insider owned 461,137 shares in the company, valued at approximately $5,773,435.24. This represents a 5.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Raymond Zage III acquired 50,000 shares of Grindr stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $13.51 per share, with a total value of $675,500.00. Following the transaction, the director owned 8,113,283 shares of the company’s stock, valued at $109,610,453.33. This trade represents a 0.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 1,605,000 shares of company stock worth $21,080,000 and sold 3,879,539 shares worth $52,694,016. Company insiders own 67.70% of the company’s stock.

Grindr Price Performance

Shares of GRND opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The firm has a 50-day simple moving average of $13.58 and a 200-day simple moving average of $17.20. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -36.22 and a beta of 0.23.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the prior year, the business earned $0.09 EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. On average, equities research analysts anticipate that Grindr Inc. will post 0.29 earnings per share 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.