Grindr Inc. $GRND Shares Purchased by Tikvah Management LLC

Tikvah Management LLC boosted its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,463,720 shares of the company's stock after purchasing an additional 109,100 shares during the period. Grindr makes up 6.4% of Tikvah Management LLC's holdings, making the stock its 6th biggest holding. Tikvah Management LLC owned 0.84% of Grindr worth $21,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GRND. AQR Capital Management LLC grew its stake in shares of Grindr by 289.1% in the 1st quarter. AQR Capital Management LLC now owns 88,134 shares of the company's stock valued at $1,578,000 after buying an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock valued at $517,000 after buying an additional 762 shares during the period. Creative Planning acquired a new position in Grindr in the second quarter valued at approximately $310,000. Legal & General Group Plc lifted its holdings in Grindr by 33.8% in the second quarter. Legal & General Group Plc now owns 30,341 shares of the company's stock valued at $689,000 after acquiring an additional 7,668 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Grindr by 27.8% in the second quarter. Rhumbline Advisers now owns 55,006 shares of the company's stock worth $1,249,000 after acquiring an additional 11,963 shares during the period. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRND has been the subject of several recent analyst reports. Wall Street Zen cut Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Raymond James Financial reaffirmed an "outperform" rating on shares of Grindr in a research note on Friday, August 7th. TD Cowen reiterated a "buy" rating on shares of Grindr in a report on Monday, June 1st. The Goldman Sachs Group reissued a "buy" rating and set a $19.00 price objective on shares of Grindr in a research report on Friday, August 7th. Finally, Morgan Stanley restated an "overweight" rating on shares of Grindr in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Insider Activity at Grindr

In other Grindr news, Director Daniel Baer sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total transaction of $54,775.00. Following the sale, the director directly owned 47,912 shares in the company, valued at $749,822.80. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Zachary Katz sold 12,979 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $17.89, for a total transaction of $232,194.31. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 52,250 shares of company stock worth $818,045. 60.90% of the stock is owned by insiders.

Grindr Stock Performance

NYSE GRND opened at $14.89 on Thursday. The company has a market cap of $2.59 billion, a P/E ratio of 29.78 and a beta of 0.19. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50-day moving average of $15.91 and a two-hundred day moving average of $13.80. Grindr Inc. has a 1-year low of $9.73 and a 1-year high of $18.50.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%.The business had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. As a group, analysts anticipate that Grindr Inc. will post 0.51 EPS for the current year.

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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