Grindr's (GRND) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Grindr's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating analysts' concerns about its performance.
• Despite mixed reviews, with some analysts rating it as "buy” and others lowering price targets, the average target is $22.60, suggesting potential upside from the current levels.
• The company reported earnings per share of $0.08 for the last quarter, missing expectations, while also showing a year-over-year revenue increase of 26.6%.

Grindr (NYSE:GRND - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

GRND has been the subject of several other reports. Raymond James Financial cut their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Citizens Jmp began coverage on Grindr in a research note on Monday, June 30th. They issued an "outperform" rating and a $27.00 price target for the company. JMP Securities cut their price target on Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded Grindr from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.60.

Grindr Price Performance

Grindr stock opened at $13.16 on Wednesday. Grindr has a 12 month low of $12.23 and a 12 month high of $25.13. The stock's 50 day moving average is $15.85 and its 200-day moving average is $19.41. 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 has a market capitalization of $2.53 billion, a price-to-earnings ratio of -29.91 and a beta of 0.23.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $104.00 million during 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 quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.13) earnings per share. Equities research analysts expect that Grindr will post 0.29 EPS for the current year.

Insider Buying and Selling at Grindr

In related news, CFO Vandana Mehta-Krantz sold 43,565 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 688,047 shares of the company's stock, valued at $11,621,113.83. This trade represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Zachary Katz sold 7,644 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $15.64, for a total value of $119,552.16. Following the sale, the insider directly owned 555,984 shares in the company, valued at approximately $8,695,589.76. This trade represents a 1.36% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,902 shares of company stock worth $1,213,185. 67.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grindr

Hedge funds have recently modified their holdings of the company. CWM LLC raised its position in Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 1,385 shares during the last quarter. GAMMA Investing LLC raised its position in Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after purchasing an additional 662 shares during the last quarter. Raymond James Financial Inc. bought a new position in Grindr during the 2nd quarter worth $39,000. Finally, Huntington National Bank bought a new position in Grindr during the 2nd quarter worth $64,000. Institutional investors and hedge funds 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.

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