Grindr Inc. $GRND Position Increased by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of Grindr Inc. (NYSE:GRND) by 1,060.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 776,769 shares of the company’s stock after purchasing an additional 709,857 shares during the quarter. Franklin Resources Inc.’s holdings in Grindr were worth $17,633,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd lifted its stake in Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock valued at $305,000 after buying an additional 459 shares during the last quarter. CWM LLC increased its holdings in shares of Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Grindr by 2.7% in the 1st 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 last quarter. Bank of New York Mellon Corp boosted its stake in Grindr by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company’s stock valued at $967,000 after purchasing an additional 1,111 shares during the period. Finally, Rhumbline Advisers grew its position in Grindr by 3.0% in the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock worth $770,000 after purchasing an additional 1,272 shares during the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Trading Down 1.0%

Shares of GRND stock opened at $12.82 on Friday. The stock has a 50-day simple moving average of $13.93 and a 200 day simple moving average of $17.80. The stock has a market capitalization of $2.37 billion, a P/E ratio of -34.63 and a beta of 0.22. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week 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.

Grindr (NYSE:GRND) last issued its quarterly earnings results 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 negative net margin of 11.99% and a positive return on equity of 80.21%. The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the prior year, the company earned $0.09 EPS. Grindr’s revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Grindr

In related news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $13.15, for a total value of $13,150,000.00. Following the transaction, the director directly owned 25,588,867 shares in the company, valued at $336,493,601.05. The trade was a 3.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George Raymond Zage III bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was bought at an average price of $13.15 per share, for a total transaction of $13,150,000.00. Following the completion of the acquisition, the director directly owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. The trade was a 14.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 3,878,039 shares of company stock worth $52,674,966. 67.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GRND has been the topic of a number of recent analyst reports. JMP Securities cut their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Raymond James Financial reduced their price target on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Citizens Jmp cut their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Five 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 presently has an average rating of “Moderate Buy” and an average price target 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.