WINTON GROUP Ltd Makes New $1.98 Million Investment in Grindr Inc. $GRND

WINTON GROUP Ltd acquired a new stake in Grindr Inc. (NYSE:GRND) in the second quarter, HoldingsChannel.com reports. The firm acquired 137,473 shares of the company’s stock, valued at approximately $1,975,000.

Several other large investors have also modified their holdings of GRND. AQR Capital Management LLC increased its holdings in shares of Grindr by 289.1% in the 1st quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after acquiring an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the last quarter. Creative Planning purchased a new stake in shares of Grindr in the second quarter valued at about $310,000. Legal & General Group Plc boosted its stake in shares of Grindr by 33.8% during the second quarter. Legal & General Group Plc now owns 30,341 shares of the company’s stock worth $689,000 after buying an additional 7,668 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Grindr by 27.8% during the second quarter. Rhumbline Advisers now owns 55,006 shares of the company’s stock worth $1,249,000 after buying an additional 11,963 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Grindr news, insider Zachary Katz sold 12,979 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.89, for a total value of $232,194.31. Following the sale, the insider owned 690,172 shares of the company’s stock, valued at approximately $12,347,177.08. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total value of $54,775.00. Following the completion of the transaction, the director owned 47,912 shares of the company’s stock, valued at approximately $749,822.80. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,250 shares of company stock worth $818,045. 60.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on GRND shares. TD Cowen restated a “buy” rating on shares of Grindr in a research report on Monday, June 1st. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 target price on shares of Grindr in a report on Friday, August 7th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Grindr Price Performance

GRND stock opened at $15.29 on Friday. The firm has a 50 day moving average of $15.88 and a 200-day moving average of $13.84. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 30.59 and a beta of 0.19. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%.The firm had revenue of $138.14 million during the quarter, compared to analyst estimates of $132.50 million. As a group, equities analysts expect that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Grindr Company Profile

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.