Grindr Inc. $GRND Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC cut its holdings in shares of Grindr Inc. (NYSE:GRND) by 50.4% during the second quarter, Holdings Channel.com reports. The fund owned 258,047 shares of the company’s stock after selling 262,538 shares during the period. Squarepoint Ops LLC’s holdings in Grindr were worth $3,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Grindr by 289.1% during the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock worth $1,578,000 after purchasing an additional 65,485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares during the period. Creative Planning purchased a new stake in shares of Grindr in the second quarter valued at approximately $310,000. Legal & General Group Plc increased its position in shares of Grindr by 33.8% in the second quarter. Legal & General Group Plc now owns 30,341 shares of the company’s stock valued at $689,000 after buying an additional 7,668 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Grindr by 27.8% during the 2nd quarter. Rhumbline Advisers now owns 55,006 shares of the company’s stock worth $1,249,000 after buying an additional 11,963 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Stock Performance

NYSE GRND opened at $15.29 on Friday. The company has a market cap of $2.66 billion, a PE ratio of 30.59 and a beta of 0.19. The stock’s 50 day simple moving average is $15.88 and its 200-day simple moving average is $13.84. Grindr Inc. has a 1-year low of $9.73 and a 1-year high of $18.50. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10.

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

Insider Activity at Grindr

In other news, insider Zachary Katz sold 12,979 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.89, for a total transaction of $232,194.31. Following the transaction, the insider directly owned 690,172 shares in the company, valued at $12,347,177.08. The trade was a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 that occurred on Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total value of $54,775.00. Following the completion of the sale, the director owned 47,912 shares of the company’s stock, valued at $749,822.80. This trade represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 52,250 shares of company stock worth $818,045. Insiders own 60.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GRND shares. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 price target on shares of Grindr in a report on Friday, August 7th. TD Cowen restated a “buy” rating on shares of Grindr in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Finally, Raymond James Financial reiterated an “outperform” rating 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 issued a Hold rating to the company. According to MarketBeat.com, Grindr presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Grindr Company 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.