Key Points
- Grindr director Daniel Brooks Baer sold 3,500 shares for $54,775, reducing his position by 6.81% to 47,912 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Grindr reported quarterly revenue of $138.14 million, exceeding estimates of $132.50 million, but earnings per share of $0.10 missed expectations by $0.06.
- Analyst sentiment remains positive, with five Buy ratings and one Hold rating and a consensus price target of $20, versus the stock’s recent price near $15.59.
Grindr Inc. (NYSE:GRND - Get Free Report) Director Daniel Brooks 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 completion of the sale, the director owned 47,912 shares of the company's stock, valued at approximately $749,822.80. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Grindr Trading Down 0.4%
Shares of GRND opened at $15.59 on Friday. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 31.18 and a beta of 0.20. The stock's 50-day moving average price is $15.44 and its 200 day moving average price is $13.32.
Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The firm had revenue of $138.14 million during the quarter, compared to analyst estimates of $132.50 million. As a group, research analysts predict that Grindr Inc. will post 0.51 earnings per share for the current year.
Analyst Ratings Changes
GRND has been the subject of a number of recent research reports. The Goldman Sachs Group restated a "buy" rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. TD Cowen reiterated a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Raymond James Financial restated an "outperform" rating on shares of Grindr in a research note on Friday, August 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $20.00 price objective on shares of Grindr in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has 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 price target of $20.00.
Get Our Latest Research Report on Grindr
Institutional Investors Weigh In On Grindr
A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grindr in the 3rd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr during the 2nd quarter worth approximately $39,000. CWM LLC lifted its position in shares of Grindr by 713.8% during the 4th quarter. CWM LLC now owns 2,946 shares of the company's stock worth $40,000 after buying an additional 2,584 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in Grindr in the 4th quarter valued at $45,000. 7.22% of the stock is owned by institutional investors and hedge funds.
About Grindr
(
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.
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