Grindr Inc. $GRND Holdings Decreased by BIT Capital GmbH

BIT Capital GmbH reduced its holdings in Grindr Inc. (NYSE:GRND) by 18.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,695 shares of the company’s stock after selling 168,838 shares during the period. BIT Capital GmbH owned about 0.38% of Grindr worth $11,035,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GRND. EverSource Wealth Advisors LLC increased its holdings in shares of Grindr by 1,473.4% in the 2nd 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Grindr during the second quarter worth approximately $39,000. CWM LLC grew its position in Grindr by 28.7% during the second quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares in the last quarter. Huntington National Bank acquired a new position in Grindr in the 2nd quarter valued at approximately $64,000. Finally, Ameritas Investment Partners Inc. lifted its position in Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after buying an additional 1,002 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Stock Up 1.4%

NYSE GRND opened at $10.88 on Friday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50-day simple moving average of $12.21 and a 200 day simple moving average of $13.82. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $25.13. The stock has a market cap of $2.01 billion, a PE ratio of -29.39 and a beta of 0.22.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GRND shares. Citizens Jmp lowered their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Grindr has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

Insiders Place Their Bets

In other news, major shareholder James Fu Bin Lu sold 475,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $10.01, for a total value of $4,754,750.00. Following the completion of the transaction, the insider owned 18,432,101 shares in the company, valued at approximately $184,505,331.01. This represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 605,000 shares of company stock worth $7,930,000 and have sold 3,590,649 shares worth $40,553,189. 67.70% of the stock is owned by corporate insiders.

Grindr Company Profile

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.