Right. So, February 17th, 2026. Another day, another filing with the SEC. This time, it’s Perry Creek Capital, and they’ve decided to, well, buy into Grindr. 429,641 shares, to be precise. Approximately $5.82 million. It feels…bold. Like ordering the lobster when you’re pretty sure you’ll only manage three bites. I mean, Grindr. It’s not exactly a blue-chip stock, is it? More…mauve-chip?
It represents 3.49% of Perry Creek’s reported assets. Which, let’s be honest, is a significant chunk to dedicate to a dating app. Especially one that’s… complicated. I’ve been staring at the charts for hours, trying to rationalise it. Units of Cryptocurrency Lost: 0 (thank goodness). Hours Spent Watching Charts: 11. Number of Panicked Texts to Friends: 18. It’s a slippery slope, this investing business.
Here’s a little rundown of where Perry Creek stands after this move. It’s all relative, of course.
- NYSE:FAF: $61.98 million (37.2% of AUM)
- NYSE:PFGC: $27.40 million (16.5% of AUM)
- NYSE:PK: $18.43 million (11.1% of AUM)
- NASDAQ:ICLR: $17.31 million (10.4% of AUM)
- NYSE:MTN: $10.13 million (6.1% of AUM)
As of February 13th, Grindr was trading at $10.08. Which, if you look at the year-on-year performance, is…underperforming. By a lot. Down 45.9%, and lagging the S&P 500 by a frankly alarming 57.66 percentage points. It’s like watching a very expensive, slightly depressing performance art piece.
A Quick Glance at Grindr
Just in case you’ve been living under a rock (a perfectly acceptable life choice, frankly), Grindr is a social networking platform for the LGBTQ community. They offer a free, ad-supported service, and a premium subscription. It’s a business model as old as time: free stuff to lure you in, then quietly relieving you of your money. They’re all about connection, content sharing, and self-expression. Which, you know, is nice.
| Metric | Value |
|---|---|
| Price (as of market close 2/13/26) | $10.08 |
| Market Capitalization | $2.22 billion |
| Revenue (TTM) | $439.90 million |
| Net Income (TTM) | $94.75 million |
So, what does this all mean? Well, Perry Creek clearly sees something. A potential turnaround, perhaps? A belief in the power of connection in a lonely world? Or maybe they just like the colour scheme. I suspect it’s more than that. They bought in after the stock had already taken a tumble, and it continued to fall, hitting a low of $9.73 in February. A bit like buying a raincoat during a monsoon.
There were, shall we say, complications. A $3.5 billion deal to take the company private fell through. And they’re carrying a fair bit of debt – over $375 million against total assets of $531 million. It’s a delicate balancing act, to say the least. I’ve spent the last hour researching the concept of “debt-to-equity ratios” and I’m now deeply regretting all my life choices.
But here’s the thing: Grindr did manage a 28% year-on-year sales increase, reaching $440 million in 2025. And they actually turned a profit – $95 million, compared to a loss of $131 million in 2024. That’s…encouraging. It’s like finding a tenner in your winter coat.
With the share price where it is, the price-to-sales ratio is currently at five – the lowest it’s been in over a year. So, maybe, just maybe, now is a good time to pick up a few shares. Or maybe it’s a terrible idea. Honestly, who knows? I’m starting to think I should just stick to buying houseplants. At least they don’t have SEC filings.
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2026-03-11 04:02