Fox Run Management L.L.C. Makes New Investment in Grindr Inc. $GRND

Fox Run Management L.L.C. acquired a new position in Grindr Inc. (NYSE:GRND) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,047 shares of the company’s stock, valued at approximately $432,000.

A number of other institutional investors also recently made changes to their positions in GRND. CWM LLC raised its position in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after purchasing an additional 1,719 shares during the period. Huntington National Bank bought a new position in shares of Grindr during the second quarter valued at about $64,000. USA Financial Formulas purchased a new position in shares of Grindr in the second quarter worth about $83,000. KLP Kapitalforvaltning AS increased its holdings in shares of Grindr by 46.0% in the second quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock worth $166,000 after buying an additional 2,300 shares during the period. Finally, Ethic Inc. bought a new stake in shares of Grindr in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citizens Jmp reduced their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday. Raymond James Financial cut their target price on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. JMP Securities dropped their price target on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Grindr Price Performance

GRND opened at $14.73 on Thursday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $2.83 billion, a PE ratio of -39.81 and a beta of 0.22. The stock’s 50 day moving average price is $14.46 and its 200-day moving average price is $18.57. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million for the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. Grindr has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Insider Activity

In other Grindr news, Director James Fu Bin Lu sold 250,000 shares of Grindr stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $13.13, for a total transaction of $3,282,500.00. Following the sale, the director directly owned 23,888,867 shares of the company’s stock, valued at approximately $313,660,823.71. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George Raymond Zage III bought 1,000,000 shares of Grindr stock in a transaction on Thursday, October 9th. The shares were purchased at an average price of $13.15 per share, for a total transaction of $13,150,000.00. Following the acquisition, the director directly owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. This trade represents a 14.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 2,332,890 shares of company stock valued at $30,192,529. Corporate insiders own 67.70% of the company’s stock.

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.