Groupe la Francaise Has $363,000 Position in Grindr Inc. $GRND

Key Points

• Groupe la Francaise reduced its Grindr stake by 80% in the first quarter, selling 120,000 shares and retaining 30,000 shares valued at approximately $363,000. Institutional investors and hedge funds collectively own 7.22% of Grindr.
• Grindr reported quarterly EPS of $0.14, beating estimates of $0.13, while revenue of $129.94 million exceeded the $119.42 million consensus forecast. Shares opened at $17.34, near their one-year high of $18.69.
• Analyst sentiment remains broadly positive, with five Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $19.20.

Groupe la Francaise cut its stake in Grindr Inc. (NYSE:GRND - Free Report) by 80.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the company's stock after selling 120,000 shares during the quarter. Groupe la Francaise's holdings in Grindr were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GRND. Emmett Investment Management LP bought a new position in shares of Grindr during the first quarter worth $3,702,000. SPX Gestao de Recursos Ltda increased its position in shares of 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. Tikvah Management LLC bought a new stake in shares of Grindr in the 4th quarter valued at $10,964,000. Los Angeles Capital Management LLC raised its stake in Grindr by 141.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 129,319 shares of the company's stock worth $1,796,000 after buying an additional 75,704 shares during the period. Finally, Norges Bank acquired a new stake in Grindr during the 4th quarter worth $27,441,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Grindr Stock Performance

Shares of Grindr stock opened at $17.34 on Friday. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 36.11 and a beta of 0.22. The stock's 50-day moving average is $14.08 and its 200-day moving average is $12.87. Grindr Inc. has a one year low of $9.73 and a one year high of $18.69.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Grindr had a return on equity of 123.31% and a net margin of 19.85%.The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. Equities analysts predict that Grindr Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 12,800 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.28, for a total transaction of $208,384.00. Following the completion of the transaction, the insider directly owned 713,323 shares of the company's stock, valued at $11,612,898.44. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 35,771 shares of company stock worth $531,075. 60.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GRND has been the subject of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $18.00 target price on shares of Grindr in a research note on Friday, May 8th. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research report on Saturday. TD Cowen reiterated a "buy" rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley raised Grindr from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised Grindr from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.20.

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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