Intech Investment Management LLC Has $530,000 Stock Position in Grindr Inc. $GRND

Intech Investment Management LLC boosted its holdings in Grindr Inc. (NYSE:GRND) by 38.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,327 shares of the company’s stock after purchasing an additional 6,537 shares during the period. Intech Investment Management LLC’s holdings in Grindr were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of GRND. Nuveen LLC acquired a new stake in shares of Grindr in the first quarter worth $20,049,000. Adage Capital Partners GP L.L.C. acquired a new position in Grindr during the 1st quarter valued at $14,320,000. Bwcp LP boosted its holdings in Grindr by 61.8% in the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after purchasing an additional 418,994 shares during the period. SG Americas Securities LLC grew its position in Grindr by 1,174.1% in the 2nd quarter. SG Americas Securities LLC now owns 442,143 shares of the company’s stock worth $10,037,000 after purchasing an additional 407,440 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Grindr by 23.5% in 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. 7.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 29,383 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $12.52, for a total value of $367,875.16. Following the sale, the insider owned 461,137 shares in the company, valued at approximately $5,773,435.24. The trade was a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James Fu Bin Lu sold 75,748 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $13.65, for a total transaction of $1,033,960.20. Following the completion of the sale, the insider directly owned 22,388,867 shares in the company, valued at approximately $305,608,034.55. The trade was a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,878,039 shares of company stock worth $52,674,966. 67.70% of the stock is owned by insiders.

Grindr Stock Performance

NYSE GRND opened at $12.82 on Friday. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The stock has a market cap of $2.37 billion, a P/E ratio of -34.63 and a beta of 0.22. The company’s 50-day simple moving average is $13.93 and its 200 day simple moving average is $17.80.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $113.53 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

About Grindr

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.