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

Key Points

• Analyst sentiment is moderately bullish: Five of six 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 $15.93.
• Grindr reported quarterly revenue of $138.14 million, exceeding the $132.50 million consensus estimate, but earnings per share of $0.10 fell short of expectations by $0.06.
• Insiders sold 48,750 shares worth approximately $763,270 over the past three months, though insiders still own 60.90% of the company; institutional ownership stands at 7.22%.

Grindr Inc. (NYSE:GRND - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $20.00.

GRND has been the subject of several recent research reports. Raymond James Financial reissued an "outperform" rating on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Morgan Stanley reiterated an "overweight" rating and issued a $20.00 price objective on shares of Grindr in a research note on Friday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a report on Friday, August 7th. Finally, TD Cowen restated a "buy" rating on shares of Grindr in a research report on Monday, June 1st.

Grindr Stock Up 1.1%

GRND stock opened at $15.93 on Friday. The stock has a fifty day moving average of $15.02 and a 200-day moving average of $13.18. Grindr has a fifty-two week low of $9.73 and a fifty-two week high of $18.50. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 31.86 and a beta of 0.20. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.32 and a current ratio of 1.10.

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

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 12,979 shares of Grindr stock in a transaction on 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 transaction, the insider directly owned 690,172 shares in the company, valued at approximately $12,347,177.08. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,750 shares of company stock valued at $763,270 in the last three months. 60.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GRND. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grindr during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr in the second quarter valued at approximately $39,000. CWM LLC boosted its position in shares of Grindr by 713.8% in the fourth quarter. CWM LLC now owns 2,946 shares of the company's stock valued at $40,000 after acquiring an additional 2,584 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Grindr during the fourth quarter valued at approximately $45,000. Institutional investors own 7.22% of the company's stock.

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.

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