Grindr Inc. (NYSE:GRND) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Grindr Inc. (NYSE:GRND) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.50.

GRND has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citizens Jmp reduced their price objective on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th.

Insider Activity

In other news, Director George Raymond Zage III purchased 50,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average price of $13.51 per share, with a total value of $675,500.00. Following the purchase, the director owned 8,113,283 shares in the company, valued at $109,610,453.33. This represents a 0.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James Fu Bin Lu sold 3,628 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $13.50, for a total value of $48,978.00. Following the completion of the transaction, the insider owned 511,833 shares in the company, valued at $6,909,745.50. This represents a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders bought 1,605,000 shares of company stock worth $21,080,000 and sold 4,020,017 shares worth $54,602,101. 67.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after purchasing an additional 9,952 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after buying an additional 1,058,084 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Grindr by 93.5% in the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after buying an additional 608,554 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Grindr by 144.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock worth $15,675,000 after acquiring an additional 615,900 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Grindr by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 978,287 shares of the company’s stock valued at $22,207,000 after acquiring an additional 78,375 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Grindr Trading Down 0.7%

Shares of NYSE GRND opened at $13.17 on Friday. Grindr has a one year low of $11.73 and a one year high of $25.13. The firm has a market capitalization of $2.43 billion, a PE ratio of -35.60 and a beta of 0.23. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The business has a 50-day moving average price of $13.62 and a two-hundred day moving average price of $15.80.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, analysts predict that Grindr will post 0.29 earnings per share for the current fiscal year.

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.