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

Grindr Inc. (NYSE:GRND) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.50.

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Finally, Citizens Jmp reduced their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th.

Grindr Trading Up 0.2%

GRND opened at $11.98 on Tuesday. The business has a fifty day moving average price of $13.16 and a 200 day moving average price of $14.85. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. Grindr has a 12 month low of $11.67 and a 12 month high of $25.13. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -32.36 and a beta of 0.23.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. Sell-side analysts expect that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Grindr

In other Grindr news, Director George Raymond Zage III bought 150,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of $12.91 per share, with a total value of $1,936,500.00. Following the purchase, the director owned 1,210,507 shares in the company, valued at approximately $15,627,645.37. This represents a 14.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James Fu Bin Lu sold 558,744 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $14.99, for a total value of $8,375,572.56. Following the completion of the sale, the insider directly owned 23,330,123 shares of the company’s stock, valued at $349,718,543.77. This represents a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have acquired 605,000 shares of company stock worth $7,930,000 and have sold 2,618,750 shares worth $36,304,718. Insiders own 67.70% of the company’s stock.

Institutional Investors Weigh In On Grindr

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

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.