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

Shares of Grindr Inc. (NYSE:GRND) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.3333.

GRND has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp reduced their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th.

Grindr Price Performance

GRND stock opened at $11.22 on Friday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -30.33 and a beta of 0.22. The firm’s 50-day moving average price is $12.16 and its two-hundred day moving average price is $13.77. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr has a 12-month low of $9.73 and a 12-month high of $25.13.

Insider Transactions at Grindr

In other Grindr news, major shareholder James Fu Bin Lu sold 600,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.07, for a total transaction of $6,042,000.00. Following the completion of the transaction, the insider owned 18,907,101 shares of the company’s stock, valued at approximately $190,394,507.07. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders acquired 605,000 shares of company stock valued at $7,930,000 and sold 3,590,649 shares valued at $40,553,189. Company 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 the business. Caitong International Asset Management Co. Ltd purchased a new stake in Grindr in the third quarter worth about $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after acquiring an additional 1,385 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr during the second quarter valued at $39,000. CWM LLC raised its position in shares of Grindr by 713.8% in the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock worth $40,000 after purchasing an additional 2,584 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in Grindr in the 4th quarter worth about $53,000. 7.22% of the stock is owned by hedge funds and other 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.