Quadrature Capital Ltd Boosts Position in Grindr Inc. $GRND

Quadrature Capital Ltd increased its position in shares of Grindr Inc. (NYSE:GRND) by 168.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,985 shares of the company’s stock after acquiring an additional 25,063 shares during the quarter. Quadrature Capital Ltd’s holdings in Grindr were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in Grindr during the second quarter worth about $1,765,000. Russell Investments Group Ltd. increased its holdings in shares of Grindr by 1,911.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 40,846 shares of the company’s stock worth $927,000 after buying an additional 38,815 shares during the last quarter. XTX Topco Ltd raised its position in shares of Grindr by 279.3% during the 2nd quarter. XTX Topco Ltd now owns 64,625 shares of the company’s stock valued at $1,467,000 after buying an additional 47,589 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Grindr by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after buying an additional 1,002 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Grindr by 27.8% in the second quarter. Rhumbline Advisers now owns 55,006 shares of the company’s stock valued at $1,249,000 after acquiring an additional 11,963 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

GRND has been the subject of several recent analyst reports. Raymond James Financial cut their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. JMP Securities lowered their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citizens Jmp dropped their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Grindr presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Insider Buying and Selling

In other Grindr news, Director George Raymond Zage III bought 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, October 9th. The shares were purchased at an average cost of $13.15 per share, with a total value of $13,150,000.00. Following the purchase, the director directly owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. This represents a 14.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Fu Bin Lu sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the sale, the director owned 25,588,867 shares in the company, valued at approximately $336,493,601.05. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,878,039 shares of company stock valued at $52,674,966 in the last 90 days. Company insiders own 67.70% of the company’s stock.

Grindr Price Performance

GRND stock opened at $12.82 on Monday. The business’s fifty day moving average price is $13.93 and its 200 day moving average price is $17.72. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $2.37 billion, a PE ratio of -34.63 and a beta of 0.23.

Grindr (NYSE:GRND) last released its 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 company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.Grindr’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Grindr has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

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.