SG Americas Securities LLC Sells 141,237 Shares of Grindr Inc. $GRND

SG Americas Securities LLC cut its stake in shares of Grindr Inc. (NYSE:GRND) by 65.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,816 shares of the company’s stock after selling 141,237 shares during the quarter. SG Americas Securities LLC’s holdings in Grindr were worth $917,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grindr by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Grindr by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Grindr by 69.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,983 shares of the company’s stock valued at $40,000 after buying an additional 1,227 shares in the last quarter. Vident Advisory LLC increased its position in Grindr by 2.6% in the 4th quarter. Vident Advisory LLC now owns 50,616 shares of the company’s stock valued at $685,000 after buying an additional 1,271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the period. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Trading Up 0.2%

GRND opened at $16.09 on Monday. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $22.73. The firm has a market capitalization of $2.86 billion, a PE ratio of 33.51 and a beta of 0.22. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32. The company’s 50-day moving average is $13.21 and its 200 day moving average is $12.54.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $129.94 million during 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%. As a group, research analysts predict that Grindr Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 12,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.28, for a total value of $208,384.00. Following the transaction, the insider owned 713,323 shares in the company, valued at $11,612,898.44. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,771 shares of company stock valued at $531,075 in the last 90 days. 60.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on GRND shares. Weiss Ratings upgraded Grindr from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen raised Grindr from a “hold” rating to a “buy” rating in a research report on Sunday. TD Cowen reiterated a “buy” rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley raised shares of Grindr from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $18.00 in a research report on Wednesday. Finally, 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Grindr presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

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.