Grindr Inc. (NYSE:GRND) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Grindr Inc. (NYSE:GRND) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $22.50.

Several analysts have commented on GRND shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. JMP Securities cut their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Citizens Jmp decreased their price objective on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Raymond James Financial decreased their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th.

Grindr Stock Down 2.5%

NYSE GRND opened at $14.73 on Thursday. Grindr has a 12 month low of $11.73 and a 12 month high of $25.13. 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 stock has a market cap of $2.83 billion, a PE ratio of -39.81 and a beta of 0.22. The stock’s 50 day moving average is $14.46 and its 200 day moving average is $18.57.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $113.53 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS. Research analysts predict that Grindr will post 0.29 EPS for the current fiscal year.

Insider Activity at Grindr

In other Grindr news, Director George Raymond Zage III purchased 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was purchased at an average price of $13.15 per share, with a total value of $13,150,000.00. Following the acquisition, the director owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. The trade was a 14.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 25,588,867 shares in the company, valued at approximately $336,493,601.05. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,332,890 shares of company stock valued at $30,192,529. Insiders own 67.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GRND. XTX Topco Ltd raised its stake in shares of Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock valued at $305,000 after acquiring an additional 459 shares during the period. CWM LLC raised 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 purchasing an additional 552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Grindr by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after buying an additional 1,002 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Grindr by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

About Grindr

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.