Voya Investment Management LLC Buys 109,250 Shares of Grindr Inc. $GRND

Voya Investment Management LLC increased its stake in Grindr Inc. (NYSE:GRND) by 81.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,824 shares of the company’s stock after acquiring an additional 109,250 shares during the period. Voya Investment Management LLC’s holdings in Grindr were worth $3,662,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after purchasing an additional 1,385 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Grindr during the 2nd quarter valued at about $39,000. CWM LLC lifted its position in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after buying an additional 552 shares during the last quarter. Huntington National Bank bought a new stake in Grindr in the 2nd quarter worth approximately $64,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after buying an additional 1,002 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

Grindr Stock Performance

Shares of NYSE:GRND opened at $13.50 on Friday. 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 50-day moving average price of $13.65 and a 200-day moving average price of $16.37. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -36.47 and a beta of 0.23. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $115.77 million for the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.Grindr’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. As a group, equities analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday. Citizens Jmp decreased their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Insider Activity at Grindr

In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $13.15, for a total value of $13,150,000.00. Following the completion of the transaction, the director directly owned 25,588,867 shares in the company, valued at approximately $336,493,601.05. This represents a 3.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Raymond Zage III bought 1,000,000 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were bought at an average cost of $13.15 per share, for a total transaction 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 position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 1,605,000 shares of company stock worth $21,080,000 and have sold 3,870,895 shares worth $52,558,274. 67.70% of the stock is currently owned by insiders.

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.