Grindr (NYSE:GRND) Posts Earnings Results, Beats Estimates By $998.85 EPS

Grindr (NYSE:GRND) released its quarterly earnings data on Thursday. The company reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $998.85, Zacks reports. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.

Grindr Price Performance

Shares of NYSE GRND traded up $0.55 during midday trading on Thursday, reaching $11.73. The company’s stock had a trading volume of 2,595,634 shares, compared to its average volume of 1,591,683. The business’s 50 day moving average price is $12.04 and its two-hundred day moving average price is $13.62. The company has a market cap of $2.17 billion, a P/E ratio of -31.70 and a beta of 0.22. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr has a fifty-two week low of $9.73 and a fifty-two week high of $25.13.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GRND shares. Morgan Stanley assumed coverage on Grindr in a research note on Tuesday. They issued an “equal weight” rating and a $14.00 target price for the company. 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. TD Cowen reduced their target price on shares of Grindr from $26.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Insider Activity at Grindr

In related news, major shareholder James Fu Bin Lu sold 475,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $10.01, for a total value of $4,754,750.00. Following the completion of the sale, the insider directly owned 18,432,101 shares in the company, valued at $184,505,331.01. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders bought 605,000 shares of company stock worth $7,930,000 and sold 3,561,266 shares worth $40,185,314. Insiders own 67.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GRND. Price T Rowe Associates Inc. MD boosted its stake in shares of Grindr by 14.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,011 shares of the company’s stock worth $271,000 after purchasing an additional 2,481 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of Grindr in the 3rd quarter worth $249,000. Magnetar Financial LLC acquired a new stake in shares of Grindr during the third quarter worth $237,000. Inceptionr LLC acquired a new position in Grindr in the 4th quarter worth approximately $234,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Grindr by 22.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,488 shares of the company’s stock valued at $183,000 after buying an additional 2,446 shares during the period. 7.22% of the stock is owned by institutional investors.

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.