Geode Capital Management LLC Raises Stock Holdings in Grindr Inc. $GRND

Geode Capital Management LLC increased its stake in shares of Grindr Inc. (NYSE:GRND) by 27.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 657,167 shares of the company’s stock after purchasing an additional 141,339 shares during the quarter. Geode Capital Management LLC owned approximately 0.34% of Grindr worth $14,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GRND. CWM LLC boosted its stake in shares of Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock valued at $305,000 after buying an additional 459 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Grindr during the first quarter valued at approximately $376,000. Vanguard Group Inc. boosted its position in Grindr by 23.5% during the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock worth $30,690,000 after acquiring an additional 325,996 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Grindr by 42.0% in the 1st quarter. Deutsche Bank AG now owns 402,822 shares of the company’s stock worth $7,211,000 after acquiring an additional 119,121 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GRND. Citizens Jmp reduced their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Raymond James Financial dropped their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. JMP Securities reduced their target price on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Stock Performance

Grindr stock opened at $12.85 on Tuesday. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13. The stock’s 50-day moving average is $13.86 and its 200-day moving average is $17.64. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -34.72 and a beta of 0.23.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. Equities analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Zachary Katz sold 29,383 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $12.52, for a total value of $367,875.16. Following the completion of the sale, the insider owned 461,137 shares of the company’s stock, valued at approximately $5,773,435.24. The trade was a 5.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James Fu Bin Lu sold 75,748 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $13.65, for a total value of $1,033,960.20. Following the completion of the sale, the insider owned 22,388,867 shares of the company’s stock, valued at $305,608,034.55. This trade represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,878,039 shares of company stock valued at $52,674,966 in the last three months. Corporate insiders own 67.70% of the company’s stock.

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.