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

SG Americas Securities LLC trimmed its position in shares of Grindr Inc. (NYSE:GRND) by 65.1% during the first quarter, according to its most recent disclosure with the Securities and 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRND. EverSource Wealth Advisors LLC raised its holdings in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Grindr during the 2nd quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new position in Grindr in the 3rd quarter valued at approximately $26,000. CWM LLC increased its position in Grindr by 713.8% in the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after acquiring an additional 2,584 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Grindr during the fourth quarter valued at $45,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GRND has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. TD Cowen restated a “buy” rating on shares of Grindr in a report on Monday, June 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 target price on shares of Grindr in a research report on Friday, May 8th. Morgan Stanley raised Grindr from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $15.00 to $18.00 in a report on Wednesday. Finally, Wall Street Zen upgraded Grindr from a “hold” rating to a “buy” rating in a research report on Sunday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

Grindr Stock Up 0.2%

Grindr stock opened at $16.09 on Monday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 33.51 and a beta of 0.22. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $22.73. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $13.21 and a two-hundred day moving average price of $12.54.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Grindr had a net margin of 19.85% and a return on equity of 123.31%. The company had revenue of $129.94 million for the quarter, compared to analyst estimates of $119.42 million. Equities analysts predict that Grindr Inc. will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other Grindr news, insider Zachary Katz sold 12,800 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $16.28, for a total transaction of $208,384.00. Following the completion of the sale, the insider directly owned 713,323 shares in the company, valued at approximately $11,612,898.44. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 35,771 shares of company stock worth $531,075. Company insiders own 60.90% of the company’s stock.

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.