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

Key Points

• Voleon Capital Management LP significantly increased its stake in Grindr Inc. by 172.8%, holding 186,000 shares worth approximately $3.33 million after buying 117,806 additional shares in the first quarter.
• Institutional holdings in Grindr are growing, with CWM LLC increasing their stake by 838.5% and new positions acquired by multiple firms, pushing institutional ownership to 7.22%.
• Grindr reported quarterly earnings with an EPS of $0.08, missing estimates, while the company’s revenue increased 26.6% year-over-year, highlighting ongoing growth despite profitability challenges.

Voleon Capital Management LP lifted its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 172.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,000 shares of the company's stock after acquiring an additional 117,806 shares during the period. Voleon Capital Management LP owned 0.09% of Grindr worth $3,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. XTX Topco Ltd grew its position in shares of Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock worth $305,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Grindr by 45.5% during the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grindr by 2.7% in 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 last quarter. Bank of New York Mellon Corp grew its position in Grindr by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company's stock valued at $967,000 after buying an additional 1,111 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Grindr by 3.0% in the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock valued at $770,000 after buying an additional 1,272 shares during the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vandana Mehta-Krantz sold 43,565 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $16.89, for a total value of $735,812.85. Following the sale, the chief financial officer directly owned 688,047 shares in the company, valued at $11,621,113.83. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Zachary Katz sold 14,693 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the transaction, the insider directly owned 595,112 shares of the company's stock, valued at $11,455,906. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,235 shares of company stock worth $3,570,031 over the last quarter. Insiders own 67.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GRND. Citizens Jmp began coverage on shares of Grindr in a research report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective on the stock. Raymond James Financial decreased their target price on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $22.60.

Grindr Price Performance

Shares of Grindr stock traded up $0.06 on Friday, hitting $16.07. The company's stock had a trading volume of 2,369,913 shares, compared to its average volume of 1,750,818. Grindr Inc. has a 52-week low of $11.51 and a 52-week high of $25.13. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The firm has a fifty day moving average price of $17.64 and a 200-day moving average price of $19.64. The company has a market capitalization of $3.09 billion, a P/E ratio of -36.52 and a beta of 0.24.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The business had revenue of $104.00 million during the quarter, compared to analysts' expectations of $104.40 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. Grindr's quarterly revenue was up 26.6% on a year-over-year basis. On average, equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

About Grindr

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.