Grindr Inc. $GRND Shares Sold by Forge First Asset Management Inc.

Forge First Asset Management Inc. cut its stake in shares of Grindr Inc. (NYSE:GRND) by 30.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,799 shares of the company’s stock after selling 66,964 shares during the quarter. Grindr makes up approximately 1.3% of Forge First Asset Management Inc.’s portfolio, making the stock its 24th biggest position. Forge First Asset Management Inc.’s holdings in Grindr were worth $3,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after purchasing an additional 1,719 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Grindr during the 2nd quarter worth $64,000. USA Financial Formulas acquired a new position in shares of Grindr during the second quarter worth $83,000. KLP Kapitalforvaltning AS increased its holdings in Grindr by 46.0% in the second quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock valued at $166,000 after buying an additional 2,300 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Grindr by 60.2% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,960 shares of the company’s stock valued at $181,000 after buying an additional 2,992 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Up 0.7%

Grindr stock opened at $13.97 on Wednesday. The company has a market capitalization of $2.58 billion, a P/E ratio of -37.74 and a beta of 0.22. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The stock has a 50-day simple moving average of $14.35 and a 200-day simple moving average of $18.32.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS. Equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Grindr news, Director George Raymond Zage III acquired 1,000,000 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were bought 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 $101,692,671.45. This trade represents a 14.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the completion of the sale, the director directly owned 25,588,867 shares of the company’s stock, valued at $336,493,601.05. The trade was a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,847,156 shares of company stock worth $52,286,766 over the last ninety days. Corporate insiders own 67.70% of the company’s stock.

Analyst Ratings Changes

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

Grindr Company 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.