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

Shares of Grindr Inc. (NYSE:GRND) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.40.

Several brokerages have recently issued reports on GRND. The Goldman Sachs Group cut their target price on shares of Grindr from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Weiss Ratings upgraded shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Morgan Stanley began coverage on shares of Grindr in a report on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 target price on the stock. Raymond James Financial restated an “outperform” rating and issued a $18.00 target price on shares of Grindr in a report on Friday, May 8th. Finally, TD Cowen restated a “buy” rating on shares of Grindr in a report on Monday, June 1st.

Grindr Trading Up 0.0%

GRND stock opened at $10.91 on Monday. The company has a market capitalization of $1.94 billion, a PE ratio of 22.72 and a beta of 0.24. Grindr has a one year low of $9.73 and a one year high of $23.75. The company’s 50 day moving average price is $12.89 and its two-hundred day moving average price is $12.53. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.32 and a current ratio of 1.32.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Grindr had a net margin of 19.85% and a return on equity of 123.31%. The firm had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $119.42 million. As a group, analysts predict that Grindr will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Emmett Investment Management LP bought a new stake in Grindr in the first quarter valued at $3,702,000. Quantinno Capital Management LP boosted its holdings in Grindr by 194.0% in the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock valued at $1,427,000 after acquiring an additional 77,867 shares in the last quarter. Rangeley Capital LLC boosted its holdings in Grindr by 10.4% in the first quarter. Rangeley Capital LLC now owns 234,000 shares of the company’s stock valued at $2,829,000 after acquiring an additional 22,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Grindr by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda boosted its holdings in Grindr by 13.4% in the first 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 in the last quarter. Institutional investors own 7.22% of the company’s stock.

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.