Grindr (NYSE:GRND) Sets New 12-Month Low - Here's What Happened

Key Points

• Grindr Inc. shares have hit a new 12-month low, trading as low as $12.22 on Friday and closing at $12.29.
• Despite the decline, analysts show mixed sentiment with five rating the stock as a **Buy** and one as a **Sell**, while the consensus price target is set at $22.60.
• The company reported **earnings per share (EPS)** of $0.08 for the last quarter, missing estimates, but achieved a **26.6% increase** in quarterly revenue year-over-year.

Grindr Inc. (NYSE:GRND - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $12.22 and last traded at $12.29, with a volume of 388521 shares trading hands. The stock had previously closed at $12.34.

Analysts Set New Price Targets

GRND has been the topic of a number of research analyst reports. Citizens Jmp initiated coverage on shares of Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price objective on the stock. Wall Street Zen raised shares of Grindr from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Grindr in a research report on Wednesday. JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a research report on Monday, August 11th. Finally, Raymond James Financial decreased their target price on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.

Grindr Trading Down 3.1%

The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The company's fifty day moving average is $15.75 and its 200-day moving average is $19.37. The firm has a market capitalization of $2.30 billion, a P/E ratio of -27.17 and a beta of 0.23.

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

Insider Buying and Selling at Grindr

In related news, CFO Vandana Mehta-Krantz sold 43,565 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $16.89, for a total transaction of $735,812.85. Following the completion of the transaction, the chief financial officer directly owned 688,047 shares in the company, valued at $11,621,113.83. This represents a 5.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Zachary Katz sold 14,693 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the transaction, the insider owned 595,112 shares of the company's stock, valued at approximately $11,455,906. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,902 shares of company stock valued at $1,213,185. Corporate insiders own 67.70% of the company's stock.

Hedge Funds Weigh In On Grindr

A number of hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in shares of Grindr by 81.2% in the 3rd quarter. Voya Investment Management LLC now owns 243,824 shares of the company's stock valued at $3,662,000 after buying an additional 109,250 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Grindr by 749.0% in the 2nd quarter. Osaic Holdings Inc. now owns 6,486 shares of the company's stock worth $147,000 after purchasing an additional 5,722 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Grindr by 190.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 66,908 shares of the company's stock worth $1,519,000 after purchasing an additional 43,886 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Grindr by 171.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,321 shares of the company's stock worth $166,000 after purchasing an additional 4,621 shares during the last quarter. Finally, Florida Financial Advisors LLC bought a new stake in shares of Grindr in the 2nd quarter worth about $561,000. Institutional investors and hedge funds own 7.22% of the company's stock.

About Grindr

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.

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