Tikvah Management LLC Takes Position in Grindr Inc. $GRND

Tikvah Management LLC purchased a new stake in Grindr Inc. (NYSE:GRND) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 809,770 shares of the company’s stock, valued at approximately $10,964,000. Grindr accounts for 3.0% of Tikvah Management LLC’s portfolio, making the stock its 9th biggest holding. Tikvah Management LLC owned about 0.44% of Grindr at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings 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 valued at $34,430,000 after acquiring an additional 9,952 shares during the period. Norges Bank acquired a new stake in shares of Grindr in the 4th quarter worth $27,441,000. Quinn Opportunity Partners LLC purchased a new stake in Grindr in the fourth quarter valued at about $20,565,000. Jacobs Levy Equity Management Inc. raised its stake in Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after buying an additional 1,058,084 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Grindr by 93.5% in the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after acquiring an additional 608,554 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Grindr Stock Down 0.5%

Grindr stock opened at $11.58 on Monday. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50-day simple moving average is $12.80 and its two-hundred day simple moving average is $12.46. The company has a market cap of $2.06 billion, a PE ratio of 24.13 and a beta of 0.24. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $23.67.

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

Analysts Set New Price Targets

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

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.