Grindr Inc. $GRND Shares Bought by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Grindr stake by 194% in the first quarter, acquiring 77,867 additional shares and ending with 117,998 shares valued at approximately $1.43 million.
• Several other institutions also raised their positions, including Dimensional Fund Advisors, which boosted its stake by 77.6%. Institutional investors collectively owned 7.22% of Grindr.
• Grindr reported quarterly revenue of $138.14 million, exceeding estimates, but earnings per share of $0.10 missed expectations. Analysts maintain a “Moderate Buy” consensus with a $20 average price target, versus a recent share price of $15.77.

Quantinno Capital Management LP boosted its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 194.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,998 shares of the company's stock after acquiring an additional 77,867 shares during the period. Quantinno Capital Management LP owned about 0.06% of Grindr worth $1,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rangeley Capital LLC grew 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 valued at $2,829,000 after purchasing an additional 22,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock valued at $16,881,000 after buying an additional 610,111 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its stake in Grindr by 13.4% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company's stock valued at $5,511,000 after buying an additional 54,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 valued at $1,371,000 after buying an additional 5,429 shares during the last quarter. Finally, Abel Hall LLC acquired a new stake in Grindr during the 1st quarter valued at $175,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Price Performance

GRND opened at $15.77 on Friday. The company's 50 day simple moving average is $14.91 and its 200 day simple moving average is $13.16. 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 has a market capitalization of $2.80 billion, a PE ratio of 31.53 and a beta of 0.20.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share 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 company had revenue of $138.14 million for the quarter, compared to analysts' expectations of $132.50 million. As a group, sell-side analysts expect that Grindr Inc. will post 0.51 EPS for the current year.

Insiders Place Their Bets

In other Grindr news, insider Zachary Katz sold 12,979 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.89, for a total transaction of $232,194.31. Following the completion of the sale, the insider owned 690,172 shares of the company's stock, valued at approximately $12,347,177.08. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,750 shares of company stock valued at $763,270 in the last 90 days. 60.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GRND has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a report on Friday, August 7th. TD Cowen reissued a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Morgan Stanley restated an "overweight" rating and issued a $20.00 target price on shares of Grindr in a report on Friday, August 7th. Wall Street Zen cut shares of Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Grindr has an average rating of "Moderate Buy" and a consensus target price of $20.00.

About Grindr

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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