Credit Industriel ET Commercial Has $242,000 Stake in Grindr Inc. $GRND

Credit Industriel ET Commercial reduced its stake in Grindr Inc. (NYSE:GRND) by 75.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after selling 60,000 shares during the quarter. Credit Industriel ET Commercial’s holdings in Grindr were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GRND. Fort Point Capital Partners LLC grew its holdings in shares of Grindr by 123.7% during the third quarter. Fort Point Capital Partners LLC now owns 225,545 shares of the company’s stock worth $3,388,000 after buying an additional 124,740 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Grindr by 33.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company’s stock worth $5,199,000 after acquiring an additional 87,076 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Grindr by 141.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 129,319 shares of the company’s stock worth $1,796,000 after acquiring an additional 75,704 shares during the last quarter. Tikvah Management LLC bought a new position in shares of Grindr during the 4th quarter worth approximately $10,964,000. Finally, Norges Bank acquired a new stake in shares of Grindr in the fourth quarter valued at approximately $27,441,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Zachary Katz sold 12,800 shares of the company’s stock in a transaction on 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 represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 35,771 shares of company stock worth $531,075. 60.90% of the stock is owned by company insiders.

Grindr Stock Performance

NYSE GRND opened at $16.30 on Tuesday. The firm has a 50-day moving average of $13.27 and a 200-day moving average of $12.56. 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 stock has a market cap of $2.90 billion, a PE ratio of 33.95 and a beta of 0.22. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $22.64.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $129.94 million for the quarter, compared to the consensus estimate of $119.42 million. Grindr had a return on equity of 123.31% and a net margin of 19.85%. On average, sell-side analysts anticipate that Grindr Inc. will post 0.59 EPS for the current year.

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.