Grindr Inc. (NYSE:GRND) Receives $22.50 Consensus PT from Analysts

Shares of Grindr Inc. (NYSE:GRND) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.50.

Several research firms have weighed in on GRND. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp decreased their target price on 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 lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th.

Grindr Trading Down 0.4%

GRND stock opened at $13.18 on Friday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day moving average price of $13.58 and a two-hundred day moving average price of $15.76. Grindr has a one year low of $11.73 and a one year high of $25.13. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -35.62 and a beta of 0.23.

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

Insider Buying and Selling at Grindr

In related news, major shareholder James Fu Bin Lu sold 558,744 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $14.99, for a total transaction of $8,375,572.56. Following the transaction, the insider directly owned 23,330,123 shares of the company’s stock, valued at approximately $349,718,543.77. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Raymond Zage III acquired 150,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was acquired at an average price of $12.88 per share, with a total value of $1,932,000.00. Following the purchase, the director directly owned 7,883,283 shares in the company, valued at approximately $101,536,685.04. This represents a 1.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 605,000 shares of company stock worth $7,930,000 and have sold 2,812,088 shares worth $39,115,821. 67.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GRND. Y Intercept Hong Kong Ltd bought a new position in Grindr in the second quarter valued at approximately $1,832,000. Bryce Point Capital LLC bought a new stake in Grindr during the second quarter worth $851,000. Tredje AP fonden acquired a new stake in shares of Grindr in the 2nd quarter valued at $956,000. NINE MASTS CAPITAL Ltd bought a new position in shares of Grindr in the 2nd quarter valued at $7,171,000. Finally, Shaker Investments LLC OH acquired a new position in shares of Grindr during the 2nd quarter worth $992,000. 7.22% of the stock is owned by institutional investors.

About Grindr

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.