Grindr (NYSE:GRND) Share Price Crosses Below 200 Day Moving Average - Should You Sell?

Key Points

• Grindr shares fell below their 200-day moving average of $13.63, trading as low as $13.10 and last changing hands near $13.16. The stock has a $2.29 billion market capitalization and a 50-day moving average of $15.12.
• Analyst sentiment remains positive overall, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and a $20.00 target price. Goldman Sachs separately set a $19.00 target.
• Grindr’s latest quarterly results missed EPS expectations, reporting $0.10 versus the $0.16 consensus, though revenue exceeded estimates at $138.14 million. Insiders sold more than 1.5 million shares worth approximately $22.3 million over the past three months, while insiders retain a 60.9% ownership stake.

Grindr Inc. (NYSE:GRND - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $13.63 and traded as low as $13.10. Grindr shares last traded at $13.1610, with a volume of 1,667,789 shares changing hands.

Analyst Ratings Changes

GRND has been the topic of several research reports. Weiss Ratings restated a "hold (c)" rating on shares of Grindr in a research report on Friday, August 7th. Citigroup reissued a "market outperform" rating on shares of Grindr in a research note on Thursday, October 1st. Morgan Stanley restated an "overweight" rating on shares of Grindr in a report on Tuesday, September 8th. The Goldman Sachs Group reissued a "buy" rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Grindr Price Performance

The stock's fifty day simple moving average is $15.12 and its 200 day simple moving average is $13.63. The firm has a market capitalization of $2.29 billion, a P/E ratio of 26.32 and a beta of 0.19. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10.

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

Insider Buying and Selling at Grindr

In related news, Director George Zage III sold 150,000 shares of the company's stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $13.87, for a total transaction of $2,080,500.00. Following the completion of the transaction, the director owned 6,627,743 shares in the company, valued at $91,926,795.41. This represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Zachary Katz sold 15,227 shares of Grindr stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $15.23, for a total value of $231,907.21. Following the completion of the sale, the insider owned 618,000 shares in the company, valued at approximately $9,412,140. The trade was a 2.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,531,706 shares of company stock valued at $22,287,952. Company insiders own 60.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GRND. BlackRock Inc. purchased a new stake in shares of Grindr in the second quarter valued at approximately $49,159,000. Tikvah Management LLC grew its position in Grindr by 8.1% in the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company's stock worth $21,034,000 after acquiring an additional 109,100 shares during the period. Dimensional Fund Advisors LP raised its holdings in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock valued at $16,881,000 after buying an additional 610,111 shares during the period. Alberta Investment Management Corp purchased a new position in Grindr during the second quarter worth about $7,904,000. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of Grindr by 13.4% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company's stock valued at $5,511,000 after acquiring an additional 54,000 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Company Profile

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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