Grindr Inc. (NYSE:GRND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Grindr Inc. (NYSE:GRND) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $18.40.

Several analysts have issued reports on GRND shares. Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 price target on shares of Grindr in a research report on Friday, May 8th. Wall Street Zen raised shares of Grindr to a “hold” rating in a research report on Saturday. TD Cowen reaffirmed a “buy” rating on shares of Grindr in a research report on Monday, June 1st. Weiss Ratings raised shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Morgan Stanley upgraded shares of Grindr to an “overweight” rating in a report on Wednesday.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 12,799 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $14.65, for a total value of $187,505.35. Following the transaction, the insider directly owned 726,123 shares in the company, valued at $10,637,701.95. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 60.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after acquiring an additional 762 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Grindr by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after buying an additional 1,086 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Grindr by 69.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,983 shares of the company’s stock worth $40,000 after acquiring an additional 1,227 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Grindr by 2.6% in the fourth quarter. Vident Advisory LLC now owns 50,616 shares of the company’s stock worth $685,000 after acquiring an additional 1,271 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after acquiring an additional 1,385 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Stock Performance

Shares of GRND stock opened at $14.35 on Friday. The company’s fifty day simple moving average is $13.06 and its 200-day simple moving average is $12.48. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30. The firm has a market cap of $2.55 billion, a PE ratio of 29.90 and a beta of 0.24. Grindr has a 12 month low of $9.73 and a 12 month high of $22.73.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $129.94 million for the quarter, compared to analyst estimates of $119.42 million. Grindr had a net margin of 19.85% and a return on equity of 123.31%. Equities research analysts expect that Grindr will post 0.58 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.