Los Angeles Capital Management LLC Buys 75,704 Shares of Grindr Inc. $GRND

Los Angeles Capital Management LLC lifted its stake in Grindr Inc. (NYSE:GRND) by 141.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 129,319 shares of the company’s stock after buying an additional 75,704 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Grindr were worth $1,796,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GRND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Grindr by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after buying an additional 1,086 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr in the second quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Grindr during the third quarter valued at approximately $26,000. Institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GRND shares. TD Cowen restated a “buy” rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley began coverage on Grindr in a research note on Tuesday, February 24th. They set an “equal weight” rating and a $14.00 target price on the stock. Weiss Ratings upgraded Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. The Goldman Sachs Group lowered their price target on Grindr from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Grindr in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Grindr currently has an average rating of “Moderate Buy” and a consensus target price of $18.40.

Grindr Stock Up 2.0%

Shares of Grindr stock opened at $11.60 on Thursday. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $23.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30. The company’s 50 day moving average is $12.82 and its 200 day moving average is $12.48. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 24.17 and a beta of 0.24.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. Grindr had a net margin of 19.85% and a return on equity of 123.31%. Research analysts anticipate that Grindr Inc. will post 0.58 EPS for the current year.

Grindr 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.