M & L Capital Management Ltd Acquires New Holdings in Grindr Inc. $GRND

M & L Capital Management Ltd acquired a new stake in shares of Grindr Inc. (NYSE:GRND) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,450 shares of the company’s stock, valued at approximately $260,000. Grindr accounts for approximately 0.1% of M & L Capital Management Ltd’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Grindr by 23.5% during the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock valued at $30,690,000 after purchasing an additional 325,996 shares during the period. Nuveen LLC acquired a new position in shares of Grindr in the first quarter valued at approximately $20,049,000. Bwcp LP boosted its holdings in shares of Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after buying an additional 418,994 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of Grindr by 7.7% in the first quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company’s stock valued at $18,777,000 after buying an additional 74,703 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Grindr by 3.9% in the first quarter. Federated Hermes Inc. now owns 899,912 shares of the company’s stock valued at $16,108,000 after buying an additional 33,854 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Performance

Shares of GRND stock opened at $16.07 on Friday. The company’s fifty day simple moving average is $17.64 and its 200-day simple moving average is $19.65. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The firm has a market cap of $3.09 billion, a PE ratio of -36.52 and a beta of 0.24. Grindr Inc. has a 12 month low of $11.51 and a 12 month high of $25.13.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The firm had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. During the same period last year, the company posted ($0.13) earnings per share. The business’s revenue was up 26.6% compared to the same quarter last year. Equities research analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 14,693 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the sale, the insider directly owned 595,112 shares of the company’s stock, valued at approximately $11,455,906. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vandana Mehta-Krantz sold 43,565 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.89, for a total transaction of $735,812.85. Following the sale, the chief financial officer directly owned 688,047 shares in the company, valued at $11,621,113.83. This trade represents a 5.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 169,235 shares of company stock worth $3,570,031 over the last ninety days. Insiders own 67.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GRND shares. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Sunday, August 17th. Citizens Jmp initiated coverage on shares of Grindr in a research report on Monday, June 30th. They issued an “outperform” rating and a $27.00 price objective on the stock. Raymond James Financial cut their price objective on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, JMP Securities cut their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.60.

Grindr Company Profile

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.