Grindr Inc. (NYSE:GRND) Given Average Rating of “Moderate Buy” by Analysts

Shares of Grindr Inc. (NYSE:GRND) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $22.50.

Several research firms have recently weighed in on GRND. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Citizens Jmp cut their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday.

Grindr Stock Up 1.0%

Shares of GRND stock opened at $13.54 on Friday. Grindr has a 1 year low of $11.73 and a 1 year high of $25.13. 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 business’s fifty day moving average is $13.70 and its 200-day moving average is $16.10. The stock has a market cap of $2.50 billion, a PE ratio of -36.59 and a beta of 0.23.

Grindr (NYSE:GRND) last announced its earnings results 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 positive return on equity of 80.21% and a negative net margin of 11.99%.The business had revenue of $115.77 million during 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 quarterly revenue was up 29.6% on a year-over-year basis. Equities analysts expect that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 29,383 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $12.52, for a total value of $367,875.16. Following the completion of the transaction, the insider owned 461,137 shares in the company, valued at $5,773,435.24. This trade represents a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Raymond Zage III acquired 50,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average price of $13.51 per share, for a total transaction of $675,500.00. Following the acquisition, the director owned 8,113,283 shares in the company, valued at approximately $109,610,453.33. This trade represents a 0.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 1,605,000 shares of company stock valued at $21,080,000 and sold 4,018,517 shares valued at $54,581,611. Corporate insiders own 67.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GRND. JPMorgan Chase & Co. increased its position in shares of Grindr by 33.6% in the third quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company’s stock worth $5,199,000 after acquiring an additional 87,076 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Grindr during the 3rd quarter worth approximately $26,000. Jacobs Levy Equity Management Inc. grew its position in Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after purchasing an additional 1,058,084 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Grindr by 144.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock valued at $15,675,000 after purchasing an additional 615,900 shares during the period. Finally, Prelude Capital Management LLC purchased a new stake in shares of Grindr in the third quarter valued at $249,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

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.