GSA Capital Partners LLP Buys New Shares in Grindr Inc. $GRND

GSA Capital Partners LLP bought a new position in Grindr Inc. (NYSE:GRND) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 57,926 shares of the company’s stock, valued at approximately $832,000.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Grindr by 289.1% during the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after acquiring an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after acquiring an additional 762 shares during the period. Creative Planning bought a new position in shares of Grindr in the second quarter worth about $310,000. Legal & General Group Plc grew its position in shares of Grindr by 33.8% during the second quarter. Legal & General Group Plc now owns 30,341 shares of the company’s stock worth $689,000 after purchasing an additional 7,668 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Grindr by 27.8% during the second quarter. Rhumbline Advisers now owns 55,006 shares of the company’s stock worth $1,249,000 after purchasing an additional 11,963 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 12,979 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.89, for a total value of $232,194.31. Following the completion of the transaction, the insider directly owned 690,172 shares of the company’s stock, valued at approximately $12,347,177.08. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 48,750 shares of company stock worth $763,270. 60.90% of the stock is currently owned by corporate insiders.

Grindr Trading Up 0.7%

Shares of GRND stock opened at $15.93 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 31.85 and a beta of 0.20. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50. The stock’s 50-day moving average price is $15.20 and its 200-day moving average price is $13.24.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The firm had revenue of $138.14 million for the quarter, compared to the consensus estimate of $132.50 million. Equities research analysts predict that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Grindr in a report on Friday, August 7th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $19.00 target price on shares of Grindr in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.