Grindr Inc. (NYSE:GRND) Stock Has Consensus Target Price of $20.00

Key Points

• Analysts maintain a moderately bullish view: Six of seven analysts rate Grindr a “buy,” while one recommends holding the stock. The consensus 12-month price target is $20.00, compared with the reported share price of $12.99.
• Grindr’s latest quarter showed mixed results: revenue of $138.14 million exceeded expectations, but earnings per share of $0.10 fell short of the $0.16 consensus estimate. Analysts expect full-year EPS of approximately $0.51.
• Insiders sold heavily: Company insiders sold 1.53 million shares worth $22.3 million during the last quarter, although insiders still own 60.9% of Grindr. Institutional investors hold a comparatively small 7.22% stake.

Shares of Grindr Inc. (NYSE:GRND - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.00.

GRND has been the subject of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Grindr in a report 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 report on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of Grindr in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Grindr from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Citigroup reissued a "market outperform" rating on shares of Grindr in a research note on Thursday, October 1st.

Insider Transactions at Grindr

In related news, Director Daniel Baer sold 3,500 shares of Grindr stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $15.65, for a total transaction of $54,775.00. Following the sale, the director directly owned 47,912 shares in the company, valued at $749,822.80. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Zage III sold 350,000 shares of the company's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $14.23, for a total value of $4,980,500.00. Following the completion of the sale, the director directly owned 6,777,743 shares in the company, valued at approximately $96,447,282.89. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,531,706 shares of company stock valued at $22,287,952. Corporate insiders own 60.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRND. Versant Capital Management Inc grew its holdings in Grindr by 53.8% in the third quarter. Versant Capital Management Inc now owns 3,825 shares of the company's stock worth $59,000 after purchasing an additional 1,338 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Grindr during the fourth quarter valued at approximately $45,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Grindr by 18.7% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 22,900 shares of the company's stock valued at $353,000 after purchasing an additional 3,600 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Grindr by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 113,388 shares of the company's stock valued at $1,371,000 after purchasing an additional 5,429 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Grindr during the second quarter valued at approximately $83,000. 7.22% of the stock is currently owned by institutional investors.

Grindr Price Performance

GRND opened at $12.99 on Thursday. 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 has a 52-week low of $9.73 and a 52-week high of $18.50. The stock has a market capitalization of $2.26 billion, a PE ratio of 25.98 and a beta of 0.19. The stock's 50 day moving average price is $15.00 and its 200-day moving average price is $13.63.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). The business had revenue of $138.14 million during the quarter, compared to analysts' expectations of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. On average, equities research analysts predict that Grindr will post 0.51 EPS for the current year.

About Grindr

Grindr Inc NYSE: GRND operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.

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