Ascent Group LLC Acquires 6,158 Shares of Grindr Inc. $GRND

Ascent Group LLC increased its holdings in shares of Grindr Inc. (NYSE:GRND) by 42.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,791 shares of the company’s stock after purchasing an additional 6,158 shares during the period. Ascent Group LLC’s holdings in Grindr were worth $472,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Grindr by 23.5% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in shares of Grindr during the 1st quarter valued at about $20,049,000. Bwcp LP lifted its holdings in shares of Grindr by 61.8% during the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after purchasing an additional 418,994 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Grindr by 7.7% in the 1st 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 last quarter. Finally, Federated Hermes Inc. raised its position in Grindr by 3.9% in the 1st 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 last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Raymond James Financial dropped their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. JMP Securities dropped their target price on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Citizens Jmp assumed coverage on Grindr in a research report on Monday, June 30th. They issued an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research report on Saturday, September 27th. Finally, Wall Street Zen raised Grindr from a “hold” rating to a “buy” rating in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Grindr Stock Down 2.6%

GRND stock opened at $13.73 on Wednesday. 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 business has a 50 day moving average price of $15.94 and a two-hundred day moving average price of $19.46. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -31.21 and a beta of 0.23. Grindr Inc. has a twelve month low of $11.86 and a twelve 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 for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $104.00 million during the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 14,693 shares of Grindr stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the transaction, the insider owned 595,112 shares in the company, valued at approximately $11,455,906. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vandana Mehta-Krantz sold 43,565 shares of Grindr stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $16.89, for a total value of $735,812.85. Following the transaction, the chief financial officer owned 688,047 shares of the company’s stock, valued at $11,621,113.83. The trade was a 5.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,902 shares of company stock valued at $1,213,185 in the last quarter. 67.70% of the stock is currently owned by corporate insiders.

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.