Grindr (NYSE:GRND) Hits New 12-Month Low – Should You Sell?

Grindr Inc. (NYSE:GRND)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $11.31 and last traded at $11.4750, with a volume of 233720 shares. The stock had previously closed at $11.62.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Citizens Jmp dropped their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Grindr presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Grindr Trading Down 0.7%

The stock has a 50-day simple moving average of $13.07 and a two-hundred day simple moving average of $14.76. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $2.13 billion, a PE ratio of -31.19 and a beta of 0.23.

Grindr (NYSE:GRND) last released 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. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Insider Activity

In related news, major shareholder James Fu Bin Lu sold 200,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total value of $2,348,000.00. Following the sale, the insider directly owned 20,494,867 shares in the company, valued at approximately $240,609,738.58. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 605,000 shares of company stock worth $7,930,000 and have sold 3,057,750 shares worth $41,513,548. 67.70% of the stock is currently owned by insiders.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently made changes to their positions in GRND. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Grindr in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new position in Grindr during the 2nd quarter worth about $39,000. CWM LLC increased its position in Grindr by 713.8% during the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after purchasing an additional 2,584 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Grindr by 190.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after purchasing an additional 2,488 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors.

Grindr Company 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.