Dimensional Fund Advisors LP Has $16.88 Million Stock Position in Grindr Inc. $GRND

Key Points

• Dimensional Fund Advisors increased its Grindr stake by 77.6% in the first quarter, reaching 1.40 million shares valued at approximately $16.88 million. Institutional investors collectively own 7.22% of GRND.
• Grindr reported quarterly revenue of $138.14 million, exceeding estimates of $132.50 million, but earnings per share of $0.10 fell short of the $0.16 consensus forecast.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating, a “Moderate Buy” consensus, and an average price target of $20 versus the stock’s recent $16.62 price.

Dimensional Fund Advisors LP grew its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 77.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,396,122 shares of the company's stock after purchasing an additional 610,111 shares during the period. Dimensional Fund Advisors LP owned about 0.75% of Grindr worth $16,881,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GRND. Caitong International Asset Management Co. Ltd bought a new position in Grindr in the 3rd quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock valued at $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new position in shares of Grindr during the 2nd quarter valued at approximately $39,000. CWM LLC increased its stake in shares of Grindr by 713.8% during the 4th quarter. CWM LLC now owns 2,946 shares of the company's stock worth $40,000 after purchasing an additional 2,584 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Grindr during the 4th quarter worth approximately $45,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Zachary Katz sold 12,979 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.89, for a total value of $232,194.31. Following the completion of the sale, the insider directly owned 690,172 shares of the company's stock, valued at approximately $12,347,177.08. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,750 shares of company stock worth $763,270 in the last quarter. 60.90% of the stock is currently owned by insiders.

Grindr Trading Down 3.1%

Shares of NYSE:GRND opened at $16.62 on Friday. The stock's 50-day simple moving average is $14.55 and its two-hundred day simple moving average is $13.03. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 33.25 and a beta of 0.20. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $18.50. 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 (NYSE:GRND - Get Free Report) last posted its quarterly earnings data 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). Grindr had a return on equity of 241.38% and a net margin of 18.75%.The business had revenue of $138.14 million during the quarter, compared to analysts' expectations of $132.50 million. Analysts expect that Grindr Inc. will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and set a $20.00 target price on shares of Grindr in a research report on Friday. Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Raymond James Financial restated an "outperform" rating on shares of Grindr in a research note on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Grindr in a report on Friday. Finally, TD Cowen reiterated a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Grindr 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.

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