Tikvah Management LLC Purchases Shares of 809,770 Grindr Inc. $GRND

Tikvah Management LLC purchased a new stake in shares of Grindr Inc. (NYSE:GRND) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 809,770 shares of the company’s stock, valued at approximately $10,964,000. Grindr comprises 3.0% of Tikvah Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted 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 buying an additional 1,385 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Grindr in the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Grindr in the 3rd quarter valued at about $26,000. CWM LLC lifted its holdings in shares of Grindr by 713.8% in the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after buying an additional 2,584 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Grindr by 190.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after buying an additional 2,488 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Price Performance

Shares of Grindr stock opened at $11.58 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $23.67. The business has a 50-day moving average price of $12.80 and a 200 day moving average price of $12.46. The firm has a market cap of $2.06 billion, a PE ratio of 24.13 and a beta of 0.24.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Grindr had a return on equity of 123.31% and a net margin of 19.85%.The firm had revenue of $129.94 million during the quarter, compared to analyst estimates of $119.42 million. Sell-side analysts predict that Grindr Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Grindr

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.