54,728 Shares in Grindr Inc. (NYSE:GRND) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in shares of Grindr Inc. (NYSE:GRND) during the second quarter, Holdings Channel reports. The firm acquired 54,728 shares of the company’s stock, valued at approximately $670,000.

Other large investors also recently modified their holdings of the company. Quest Partners LLC lifted its position in shares of Grindr by 9,055.0% during the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after buying an additional 12,677 shares during the period. SG Americas Securities LLC acquired a new position in Grindr during the second quarter worth $718,000. Simplicity Wealth LLC bought a new position in shares of Grindr during the second quarter valued at $303,000. Price T Rowe Associates Inc. MD increased its position in shares of Grindr by 16.5% during the 1st 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after purchasing an additional 30,574 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GRND has been the topic of several research analyst reports. TD Cowen upped their price objective on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. 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. Finally, Raymond James lifted their price objective on Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th.

Grindr Trading Up 2.0 %

GRND opened at $12.01 on Friday. Grindr Inc. has a 1-year low of $5.32 and a 1-year high of $12.83. The firm has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $10.58. The stock has a market capitalization of $2.11 billion, a PE ratio of -66.72 and a beta of 0.35.

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

Insider Transactions at Grindr

In other news, CAO Kye Chen sold 16,187 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.68, for a total transaction of $189,064.16. Following the transaction, the chief accounting officer now owns 138,604 shares of the company’s stock, valued at $1,618,894.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Kye Chen sold 16,187 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 138,604 shares of the company’s stock, valued at $1,618,894.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Arison sold 83,639 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $10.15, for a total transaction of $848,935.85. Following the completion of the transaction, the chief executive officer now directly owns 3,029,027 shares in the company, valued at $30,744,624.05. The disclosure for this sale can be found here. Insiders sold a total of 102,757 shares of company stock worth $1,067,310 over the last 90 days. 76.40% of the stock is owned by insiders.

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.