Grindr Inc. (NYSE:GRND) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Six of seven analysts rate Grindr a buy, while one recommends holding the stock. The average 12-month price target is $20.00, above the reported opening price of $13.52.
• Grindr exceeded revenue expectations but missed on earnings: The company reported quarterly revenue of $138.14 million versus a $132.50 million consensus estimate, while EPS of $0.10 fell short of the $0.16 estimate. Analysts expect full-year EPS of $0.51.
• Insiders have been net sellers while institutions increased exposure: Insiders sold 516,479 shares worth about $8.1 million over the past 90 days, though insiders still own 60.90% of the company. Institutional investors own 7.22%, with BlackRock and Norges Bank establishing sizable new positions.

Shares of Grindr Inc. (NYSE:GRND - Get Free Report) have been given an average rating of "Moderate Buy" by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of analysts have recently weighed in on GRND shares. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research note on Friday, August 7th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating on shares of Grindr in a report on Tuesday, September 8th. Raymond James Financial reissued an "outperform" rating on shares of Grindr in a research report on Friday, August 7th. Finally, Citigroup reissued a "market outperform" rating on shares of Grindr in a report on Thursday.

Insider Transactions at Grindr

In other news, Director Daniel Baer sold 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total transaction of $54,775.00. Following the completion of the sale, the director directly owned 47,912 shares in the company, valued at approximately $749,822.80. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Zachary Katz sold 12,979 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.89, for a total value of $232,194.31. Following the completion of the sale, the insider directly owned 690,172 shares in the company, valued at $12,347,177.08. The trade was a 1.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 516,479 shares of company stock worth $8,062,025. Company insiders own 60.90% of the company's stock.

Institutional Investors Weigh In On Grindr

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Grindr during the second quarter valued at approximately $49,159,000. Norges Bank purchased a new stake in Grindr in the fourth quarter worth $27,441,000. Tikvah Management LLC boosted its holdings in Grindr by 8.1% in the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company's stock valued at $21,034,000 after acquiring an additional 109,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Grindr by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Grindr during the 2nd quarter valued at $7,904,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Price Performance

Shares of Grindr stock opened at $13.52 on Friday. Grindr has a 52-week low of $9.73 and a 52-week high of $18.50. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 27.03 and a beta of 0.19. The company has a fifty day moving average of $15.86 and a 200-day moving average of $14.24. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $138.14 million for the quarter, compared to the consensus estimate of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. Equities research analysts expect that Grindr will post 0.51 EPS for the current year.

Grindr Company Profile

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.

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