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

Shares of Grindr Inc. (NYSE:GRND) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.50.

Several brokerages have weighed in on GRND. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp lowered their price objective 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, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th.

Grindr Stock Up 0.2%

GRND opened at $11.98 on Tuesday. The company has a market capitalization of $2.21 billion, a PE ratio of -32.36 and a beta of 0.23. The firm has a 50-day simple moving average of $13.16 and a two-hundred day simple moving average of $14.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr has a 52 week low of $11.67 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the prior year, the company earned $0.09 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. Analysts forecast that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, Director George Raymond Zage III acquired 50,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was acquired at an average cost of $13.51 per share, for a total transaction of $675,500.00. Following the purchase, the director owned 8,113,283 shares in the company, valued at approximately $109,610,453.33. The trade was a 0.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James Fu Bin Lu sold 200,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $11.98, for a total value of $2,396,000.00. Following the completion of the sale, the insider owned 21,133,867 shares in the company, valued at $253,183,726.66. The trade was a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 605,000 shares of company stock valued at $7,930,000 and have sold 2,618,750 shares valued at $36,304,718. Insiders own 67.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRND. EverSource Wealth Advisors LLC grew its stake in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares during the period. Raymond James Financial Inc. purchased a new position in Grindr in the second quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in Grindr during the third quarter worth $26,000. CWM LLC increased its stake in Grindr by 28.7% during the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares during the last quarter. Finally, Huntington National Bank purchased a new stake in Grindr in the second quarter valued at $64,000. 7.22% of the stock is 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.