UBS Group AG Lowers Position in Grindr Inc. $GRND

UBS Group AG decreased its stake in shares of Grindr Inc. (NYSE:GRND) by 24.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 436,245 shares of the company’s stock after selling 138,299 shares during the period. UBS Group AG’s holdings in Grindr were worth $5,907,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GRND. Caitong International Asset Management Co. Ltd bought a new stake in Grindr in the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Grindr during the second quarter valued at about $39,000. CWM LLC grew its position in shares of Grindr by 713.8% during the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after purchasing an additional 2,584 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Grindr by 190.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after purchasing an additional 2,488 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GRND. TD Cowen decreased their target price on Grindr from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings upgraded Grindr from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Grindr in a research note on Friday, May 8th. Morgan Stanley assumed coverage on Grindr in a report on Tuesday, February 24th. They set an “equal weight” rating and a $14.00 price objective on the stock. Finally, The Goldman Sachs Group cut their target price on shares of Grindr from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Grindr currently has an average rating of “Moderate Buy” and a consensus price target of $18.40.

Grindr Stock Down 0.1%

Shares of NYSE GRND opened at $13.07 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 442.30. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $25.13. The firm’s 50-day moving average price is $12.91 and its 200-day moving average price is $12.69. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 27.23 and a beta of 0.27.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping 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 company had revenue of $129.94 million during the quarter, compared to analyst estimates of $119.42 million. On average, equities research analysts anticipate that Grindr Inc. will post 0.58 EPS for the current fiscal year.

Grindr Company 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.