Grindr Inc. $GRND is Tikvah Management LLC’s 6th Largest Position

Tikvah Management LLC lifted its stake in shares of Grindr Inc. (NYSE:GRND) by 8.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,463,720 shares of the company’s stock after buying an additional 109,100 shares during the quarter. Grindr makes up approximately 6.4% of Tikvah Management LLC’s portfolio, making the stock its 6th biggest position. Tikvah Management LLC’s holdings in Grindr were worth $21,034,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GRND. BlackRock Inc. acquired a new stake in Grindr in the second quarter valued at approximately $49,159,000. Vanguard Group Inc. increased 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 valued at $34,430,000 after purchasing an additional 9,952 shares during the last quarter. Norges Bank purchased a new stake in shares of Grindr in the 4th quarter valued at approximately $27,441,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Grindr in the 4th quarter valued at $20,565,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after purchasing an additional 610,111 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRND has been the subject of a number of analyst reports. TD Cowen reiterated a “buy” rating on shares of Grindr in a research note on Monday, June 1st. The Goldman Sachs Group restated a “buy” rating and issued a $19.00 price target on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of Grindr in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Insider Activity

In other Grindr news, insider Zachary Katz sold 12,979 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.89, for a total transaction of $232,194.31. Following the transaction, the insider owned 690,172 shares of the company’s stock, valued at approximately $12,347,177.08. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of Grindr stock in a transaction dated 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 $749,822.80. This trade represents a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 52,250 shares of company stock worth $818,045. Corporate insiders own 60.90% of the company’s stock.

Grindr Trading Down 3.7%

Shares of Grindr stock opened at $14.89 on Thursday. The company has a fifty day simple moving average of $15.91 and a 200-day simple moving average of $13.80. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50. 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 stock has a market cap of $2.59 billion, a price-to-earnings ratio of 29.78 and a beta of 0.19.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%.The company had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. On average, equities analysts forecast that Grindr Inc. will post 0.51 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.