Grindr (NYSE:GRND) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Grindr Inc. (NYSE:GRND)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $13.63 and traded as high as $14.15. Grindr shares last traded at $14.0010, with a volume of 2,296,923 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 target price on shares of Grindr in a report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Grindr in a report on Thursday, October 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Grindr presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Grindr Trading Up 7.1%

The company has a market capitalization of $2.43 billion, a PE ratio of 28.00 and a beta of 0.23. The company’s fifty day moving average is $14.75 and its 200-day moving average is $13.63. 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) last posted its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The company had revenue of $138.14 million for the quarter, compared to analysts’ expectations of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. On average, analysts anticipate that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Insider Activity at Grindr

In other Grindr news, Director George Zage III sold 150,000 shares of Grindr stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $13.87, for a total value of $2,080,500.00. Following the transaction, the director owned 6,627,743 shares in the company, valued at $91,926,795.41. The trade was a 2.21% decrease in their ownership of the stock. 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, Director Daniel Baer sold 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total transaction of $54,775.00. Following the sale, the director directly owned 47,912 shares of the company’s stock, valued at approximately $749,822.80. The trade was a 6.81% 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. Insiders have sold a total of 1,518,727 shares of company stock valued at $22,055,758 over the last quarter. 60.90% of the stock is owned by corporate insiders.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Grindr during the 2nd quarter valued at about $49,159,000. Tikvah Management LLC raised its position in shares of Grindr by 8.1% in the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after purchasing an additional 109,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock worth $16,881,000 after purchasing an additional 610,111 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Grindr in the 2nd quarter valued at $7,904,000. Finally, SPX Gestao de Recursos Ltda lifted its position in Grindr by 13.4% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock worth $5,511,000 after acquiring an additional 54,000 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

About Grindr

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.