Los Angeles Capital Management LLC Increases Holdings in Grindr Inc. $GRND

Los Angeles Capital Management LLC increased its position in Grindr Inc. (NYSE:GRND) by 141.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,319 shares of the company’s stock after buying an additional 75,704 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Grindr worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of GRND. Caitong International Asset Management Co. Ltd purchased a new position in shares of Grindr during the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Grindr in the 2nd quarter valued at $39,000. CWM LLC grew its stake in shares of Grindr by 713.8% during the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after buying an additional 2,584 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in Grindr by 190.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after acquiring an additional 2,488 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings raised Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. The Goldman Sachs Group reduced their target price on Grindr from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. TD Cowen restated a “buy” rating on shares of Grindr in a research note on Monday, June 1st. Raymond James Financial restated an “outperform” rating and set a $18.00 price target on shares of Grindr in a research report on Friday, May 8th. Finally, Morgan Stanley assumed coverage on Grindr in a research note on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Grindr Trading Up 2.0%

NYSE:GRND opened at $11.60 on Thursday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 24.17 and a beta of 0.24. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32. Grindr Inc. has a one year low of $9.73 and a one year high of $23.75. The company’s 50-day simple moving average is $12.82 and its 200 day simple moving average is $12.48.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Grindr had a net margin of 19.85% and a return on equity of 123.31%. The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. As a group, analysts forecast that Grindr Inc. will post 0.58 EPS for the current fiscal year.

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.