137,473 Shares in Grindr Inc. $GRND Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new stake in Grindr Inc. (NYSE:GRND) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 137,473 shares of the company’s stock, valued at approximately $1,975,000. WINTON GROUP Ltd owned about 0.08% of Grindr as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Grindr during the second quarter worth $49,159,000. Vanguard Group Inc. lifted its stake in Grindr by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after acquiring an additional 9,952 shares in the last quarter. Norges Bank purchased a new position in Grindr during the 4th quarter valued at about $27,441,000. Quinn Opportunity Partners LLC purchased a new position in Grindr during the 4th quarter valued at about $20,565,000. Finally, Dimensional Fund Advisors LP grew its position in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Price Performance

Grindr stock opened at $15.29 on Friday. 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 company has a fifty day simple moving average of $15.88 and a 200-day simple moving average of $13.84. The stock has a market cap of $2.66 billion, a P/E ratio of 30.59 and a beta of 0.19. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50.

Grindr (NYSE:GRND) last released its quarterly earnings data 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 business had revenue of $138.14 million during the quarter, compared to analysts’ expectations of $132.50 million. Equities analysts expect that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 12,979 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.89, for a total transaction of $232,194.31. Following the sale, the insider 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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total transaction of $54,775.00. Following the completion of the transaction, the director owned 47,912 shares of the company’s stock, valued at approximately $749,822.80. The trade was a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,250 shares of company stock worth $818,045 over the last quarter. 60.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRND. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 price target on shares of Grindr in a research report on Friday, August 7th. TD Cowen restated a “buy” rating on shares of Grindr in a research note on Monday, June 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Grindr Profile

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.