Key Points
- Insider sale: Grindr insider Zachary Katz sold 10,172 shares at an average price of $13.29, totaling about $135,186. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his position by 1.36%.
- Stock and financial snapshot: GRND opened at $13.19, near its 50-day and 200-day moving averages, with a market cap of $2.34 billion. The company reported quarterly EPS of $0.14 and revenue of $129.94 million, both ahead of estimates.
- Wall Street view: Analysts remain broadly positive on Grindr, with four Buy ratings and two Hold ratings. The stock currently carries a consensus Moderate Buy rating and an average price target of $18.40.
Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 10,172 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $13.29, for a total transaction of $135,185.88. Following the completion of the transaction, the insider owned 738,922 shares in the company, valued at approximately $9,820,273.38. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Grindr Trading Down 1.2%
Shares of GRND stock opened at $13.19 on Tuesday. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $22.99. The company has a market capitalization of $2.34 billion, a PE ratio of 27.48 and a beta of 0.24. The firm has a 50 day moving average price of $12.92 and a two-hundred day moving average price of $12.47. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $129.94 million for the quarter, compared to the consensus estimate of $119.42 million. Grindr had a return on equity of 123.31% and a net margin of 19.85%. As a group, analysts predict that Grindr Inc. will post 0.58 earnings per share for the current year.
Institutional Investors Weigh In On Grindr
Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Grindr by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company's stock valued at $34,430,000 after purchasing an additional 9,952 shares during the last quarter. Norges Bank bought a new stake in shares of Grindr during the 4th quarter worth $27,441,000. Quinn Opportunity Partners LLC acquired a new stake in Grindr in the fourth quarter valued at about $20,565,000. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 610,111 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company's stock valued at $20,746,000 after buying an additional 1,058,084 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on GRND shares. Raymond James Financial reissued an "outperform" rating and issued a $18.00 target price on shares of Grindr in a research report on Friday, May 8th. TD Cowen reiterated a "buy" rating on shares of Grindr in a research note on Monday, June 1st. The Goldman Sachs Group cut their price objective on shares of Grindr from $20.00 to $17.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Weiss Ratings raised shares of Grindr from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Finally, Morgan Stanley initiated coverage on shares of Grindr in a research report on Tuesday, February 24th. They issued an "equal weight" rating and a $14.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.40.
View Our Latest Analysis on GRND
Grindr Company Profile
(
Get Free Report)
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.
Further Reading
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