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

Key Points

• Grindr Inc. has received an average rating of "Moderate Buy" from six analysts, with one sell rating and five buy ratings, while the average 12-month price target is set at $22.60.
• The company's recent quarterly earnings reported an EPS of $0.08, falling short of the expected $0.10, despite a 26.6% year-over-year revenue increase to $104 million.
• Insider trading activity saw significant sales, with CFO Vandana Mehta-Krantz selling 43,565 shares and Director James Fu Bin Lu selling 1 million shares, together totaling over $14 million in transactions.

Grindr Inc. (NYSE:GRND - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.60.

A number of research analysts have commented on the company. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research report on Saturday. JMP Securities lowered their price target on Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, August 11th. Citizens Jmp assumed coverage on Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Grindr in a research report on Wednesday, October 8th. Finally, Raymond James Financial lowered their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, August 8th.

Grindr Trading Up 1.9%

NYSE GRND opened at $12.97 on Friday. The stock has a 50-day moving average of $15.17 and a 200-day moving average of $19.16. The firm has a market cap of $2.49 billion, a PE ratio of -29.48 and a beta of 0.23. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr has a 1-year low of $11.73 and a 1-year high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The business had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The company's revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. As a group, sell-side analysts forecast that Grindr will post 0.29 EPS for the current year.

Insider Transactions at Grindr

In other Grindr news, CFO Vandana Mehta-Krantz sold 43,565 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $16.89, for a total transaction of $735,812.85. Following the transaction, the chief financial officer owned 688,047 shares in the company, valued at approximately $11,621,113.83. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Fu Bin Lu sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $13.15, for a total value of $13,150,000.00. Following the transaction, the director owned 25,588,867 shares in the company, valued at $336,493,601.05. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,126,547 shares of company stock worth $27,730,751 over the last quarter. Insiders own 67.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Grindr in the 2nd quarter worth approximately $39,000. CWM LLC grew its stake in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after buying an additional 1,719 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares during the last quarter. Finally, Huntington National Bank purchased a new stake in shares of Grindr in the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.