Squarepoint Ops LLC Cuts Stake in Grindr Inc. $GRND

Key Points

• Squarepoint Ops LLC cut its Grindr stake by 50.4% in the second quarter, selling 262,538 shares and retaining 258,047 shares worth approximately $3.7 million.
• Institutional ownership remains relatively limited at 7.22%, although BlackRock and Norges Bank initiated sizable positions, while Dimensional Fund Advisors increased its holdings by 77.6%.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and a $20 average price target. Grindr’s latest quarter exceeded revenue expectations but missed earnings estimates, reporting $138.1 million in revenue and $0.10 EPS.

Squarepoint Ops LLC reduced its position in Grindr Inc. (NYSE:GRND - Free Report) by 50.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,047 shares of the company's stock after selling 262,538 shares during the quarter. Squarepoint Ops LLC owned 0.15% of Grindr worth $3,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRND. BlackRock Inc. purchased a new position in Grindr during the 2nd quarter valued at about $49,159,000. Vanguard Group Inc. lifted its position in shares of Grindr by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company's stock worth $34,430,000 after purchasing an additional 9,952 shares during the period. Norges Bank bought a new position in shares of Grindr during the fourth quarter valued at approximately $27,441,000. Quinn Opportunity Partners LLC bought a new position in shares of Grindr during the fourth quarter valued at approximately $20,565,000. Finally, Dimensional Fund Advisors LP increased its holdings in Grindr by 77.6% during the first 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 during the period. 7.22% of the stock is currently owned by institutional investors.

Insider Activity

In other Grindr news, Director Daniel Baer sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $15.65, for a total value of $54,775.00. Following the sale, the director owned 47,912 shares in the company, valued at approximately $749,822.80. This represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $17.89, for a total transaction of $232,194.31. Following the sale, the insider directly owned 690,172 shares in the company, valued at $12,347,177.08. The trade was a 1.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,250 shares of company stock worth $818,045 over the last ninety days. 60.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GRND. Morgan Stanley reissued an "overweight" rating on shares of Grindr in a research note on Tuesday. The Goldman Sachs Group reiterated a "buy" rating and issued a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Raymond James Financial reissued an "outperform" rating on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen cut Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, TD Cowen reiterated a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Grindr presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Grindr Stock Performance

Shares of GRND opened at $15.29 on Friday. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The stock has a fifty day moving average price of $15.88 and a 200-day moving average price of $13.84. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. The firm has a market cap of $2.66 billion, a PE ratio of 30.59 and a beta of 0.19.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data 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 357.13% and a net margin of 18.75%.The business had revenue of $138.14 million during the quarter, compared to analyst estimates of $132.50 million. Equities research analysts predict that Grindr Inc. will post 0.51 earnings per share for the current fiscal year.

Grindr Profile

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.

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