Quantinno Capital Management LP Boosts Position in Grindr Inc. $GRND

Quantinno Capital Management LP raised its holdings in shares of Grindr Inc. (NYSE:GRND) by 194.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,998 shares of the company’s stock after buying an additional 77,867 shares during the period. Quantinno Capital Management LP’s holdings in Grindr were worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rangeley Capital LLC increased its position in shares of Grindr by 10.4% in the first quarter. Rangeley Capital LLC now owns 234,000 shares of the company’s stock worth $2,829,000 after acquiring an additional 22,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Grindr by 77.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its position in Grindr by 13.4% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock worth $5,511,000 after purchasing an additional 54,000 shares during the period. Bank of New York Mellon Corp boosted its position in Grindr by 5.0% during the 1st quarter. Bank of New York Mellon Corp now owns 113,388 shares of the company’s stock worth $1,371,000 after purchasing an additional 5,429 shares during the period. Finally, Abel Hall LLC acquired a new stake in Grindr in the 1st quarter valued at $175,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Grindr in a research report on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Finally, TD Cowen reissued a “buy” rating on shares of Grindr in a research report on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Grindr currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Grindr Stock Down 0.7%

Shares of NYSE GRND opened at $15.77 on Friday. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.32 and a current ratio of 1.32. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $18.50. The stock’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $13.16. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 31.53 and a beta of 0.20.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 241.38%. The business had revenue of $138.14 million during the quarter, compared to analysts’ expectations of $132.50 million. As a group, equities analysts anticipate that Grindr Inc. will post 0.51 earnings per share for the current fiscal year.

Insider Activity

In other Grindr news, insider Zachary Katz sold 12,979 shares of the company’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 value of $232,194.31. Following the transaction, the insider directly owned 690,172 shares of the company’s stock, valued at $12,347,177.08. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 48,750 shares of company stock valued at $763,270. Corporate insiders own 60.90% of the company’s stock.

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.