Dynamic Technology Lab Private Ltd Invests $713,000 in Grindr Inc. $GRND

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Grindr Inc. (NYSE:GRND) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,421 shares of the company’s stock, valued at approximately $713,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Grindr by 23.5% during the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock worth $30,690,000 after purchasing an additional 325,996 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Grindr during the first quarter worth $20,049,000. Bwcp LP grew its holdings in shares of Grindr by 61.8% during the first quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after buying an additional 418,994 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Grindr by 7.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company’s stock valued at $18,777,000 after acquiring an additional 74,703 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Grindr by 3.9% in the 1st quarter. Federated Hermes Inc. now owns 899,912 shares of the company’s stock valued at $16,108,000 after acquiring an additional 33,854 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Grindr Stock Up 0.8%

Shares of GRND stock opened at $13.84 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13. The stock has a 50 day moving average of $14.23 and a 200 day moving average of $18.16. The stock has a market cap of $2.56 billion, a P/E ratio of -37.40 and a beta of 0.22.

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

Insiders Place Their Bets

In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $13.15, for a total value of $13,150,000.00. Following the completion of the transaction, the director owned 25,588,867 shares of the company’s stock, valued at approximately $336,493,601.05. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Raymond Zage III bought 1,000,000 shares of the stock in a transaction dated Thursday, October 9th. The shares were purchased at an average cost of $13.15 per share, for a total transaction of $13,150,000.00. Following the completion of the purchase, the director owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. This represents a 14.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 3,848,656 shares of company stock valued at $52,307,091 in the last ninety days. 67.70% of the stock is owned by corporate insiders.

Grindr 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.