Grindr Inc. (NYSE:GRND) Given Average Rating of “Moderate Buy” by Analysts

Shares of Grindr Inc. (NYSE:GRND) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $19.20.

A number of equities analysts recently weighed in on GRND shares. Raymond James Financial restated an “outperform” rating and set a $18.00 target price on shares of Grindr in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Grindr from a “hold” rating to a “buy” rating in a report on Sunday, July 5th. TD Cowen restated a “buy” rating on shares of Grindr in a research report on Monday, June 1st. Finally, Morgan Stanley upgraded Grindr from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Wednesday, July 1st.

Insider Buying and Selling

In other Grindr news, insider Zachary Katz sold 12,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $16.28, for a total transaction of $208,384.00. Following the completion of the transaction, the insider owned 713,323 shares in the company, valued at $11,612,898.44. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,771 shares of company stock worth $531,075 over the last three months. 60.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Grindr

Hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB bought a new position in shares of Grindr during the 2nd quarter valued at approximately $211,000. Emmett Investment Management LP bought a new stake in Grindr in the first quarter worth $3,702,000. Quantinno Capital Management LP increased its position in Grindr by 194.0% in the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock worth $1,427,000 after purchasing an additional 77,867 shares during the last quarter. Rangeley Capital LLC raised its stake in Grindr by 10.4% during the first quarter. Rangeley Capital LLC now owns 234,000 shares of the company’s stock valued at $2,829,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after purchasing an additional 610,111 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Price Performance

Shares of NYSE:GRND opened at $15.50 on Tuesday. The company has a market capitalization of $2.75 billion, a P/E ratio of 32.29 and a beta of 0.22. Grindr has a 1-year low of $9.73 and a 1-year high of $18.69. The firm’s 50 day simple moving average is $13.75 and its two-hundred day simple moving average is $12.76. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Grindr had a return on equity of 123.31% and a net margin of 19.85%.The firm had revenue of $129.94 million during the quarter, compared to analyst estimates of $119.42 million. Research analysts expect that Grindr will post 0.59 EPS for the current fiscal year.

About Grindr

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.