Grindr Inc. $GRND Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Grindr Inc. (NYSE:GRND) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,714,514 shares of the company’s stock after acquiring an additional 325,996 shares during the quarter. Vanguard Group Inc. owned 0.82% of Grindr worth $30,690,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after acquiring an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after purchasing an additional 662 shares in the last quarter. Quarry LP boosted its position in shares of Grindr by 209.2% in the 4th quarter. Quarry LP now owns 3,423 shares of the company’s stock worth $61,000 after buying an additional 2,316 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Grindr by 511.9% in the 4th 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. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Grindr in the 1st quarter valued at about $197,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Vandana Mehta-Krantz sold 56,611 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.47, for a total transaction of $1,328,660.17. Following the completion of the transaction, the chief financial officer directly owned 752,594 shares in the company, valued at approximately $17,663,381.18. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Michael Gearon, Jr. sold 250,300 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $24.33, for a total value of $6,089,799.00. Following the transaction, the director owned 6,340,659 shares of the company’s stock, valued at approximately $154,268,233.47. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 688,667 shares of company stock worth $16,243,440. 67.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. JMP Securities cut their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, August 11th. Citizens Jmp initiated coverage on Grindr in a research note on Monday, June 30th. They issued an “outperform” rating and a $27.00 price target on the stock. Raymond James Financial decreased their price objective on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Finally, The Goldman Sachs Group boosted their target price on Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $22.60.

Grindr Trading Down 1.9%

Shares of GRND opened at $15.58 on Thursday. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr Inc. has a 12-month low of $11.39 and a 12-month high of $25.13. The firm has a market capitalization of $2.99 billion, a PE ratio of -35.40 and a beta of 0.25. The stock’s fifty day simple moving average is $19.27 and its 200-day simple moving average is $19.87.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The company had revenue of $104.00 million during the quarter, compared to the consensus estimate of $104.40 million. During the same quarter in the prior year, the company posted ($0.13) EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

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.