Deutsche Bank AG Has $5.06 Million Stock Holdings in Grindr Inc. (NYSE:GRND)

Deutsche Bank AG boosted its position in Grindr Inc. (NYSE:GRND) by 1,984.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,701 shares of the company’s stock after acquiring an additional 270,091 shares during the quarter. Deutsche Bank AG owned 0.16% of Grindr worth $5,061,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bwcp LP acquired a new stake in shares of Grindr in the 4th quarter valued at $12,088,000. Sellaronda Global Management LP bought a new stake in shares of Grindr during the 4th quarter worth $10,704,000. Marshall Wace LLP boosted its stake in Grindr by 85.2% in the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company’s stock valued at $19,928,000 after buying an additional 513,770 shares in the last quarter. Federated Hermes Inc. boosted its stake in Grindr by 101.3% in the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company’s stock valued at $15,450,000 after buying an additional 435,748 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Grindr in the fourth quarter valued at about $7,230,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James Fu Bin Lu sold 200,811 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $24.05, for a total value of $4,829,504.55. Following the completion of the sale, the director now directly owns 28,082,445 shares in the company, valued at $675,382,802.25. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $23.71, for a total value of $11,855,000.00. Following the transaction, the director now directly owns 6,619,727 shares of the company’s stock, valued at approximately $156,953,727.17. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,470,198 shares of company stock valued at $35,043,865. Insiders own 76.40% of the company’s stock.

Grindr Trading Down 0.1%

Grindr stock opened at $23.49 on Monday. The stock has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $17.73. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $24.80. The company has a market capitalization of $4.89 billion, a PE ratio of -67.12 and a beta of 0.28.

Grindr (NYSE:GRND) last issued its quarterly earnings data 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 net margin of 16.27% and a negative return on equity of 177.83%. As a group, analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRND has been the subject of a number of research reports. Raymond James reissued an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. The Goldman Sachs Group upped their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Citigroup reissued an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.25.

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.