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

Shares of Grindr Inc. (NYSE:GRND) have received a consensus recommendation of “Buy” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $22.60.

A number of equities analysts have commented on the company. Citizens Jmp assumed coverage on Grindr in a research note on Monday, June 30th. They set an “outperform” rating and a $27.00 price objective on the stock. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Sunday, August 17th. JMP Securities decreased their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, August 11th. Finally, Raymond James Financial decreased their price target on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th.

Grindr Price Performance

Grindr stock opened at $15.06 on Wednesday. The stock’s fifty day moving average price is $16.36 and its two-hundred day moving average price is $19.55. Grindr has a one year low of $11.51 and a one year high of $25.13. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48. The firm has a market cap of $2.89 billion, a PE ratio of -34.23 and a beta of 0.24.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The company had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. During the same quarter last year, the business earned ($0.13) EPS. Grindr’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts expect that Grindr will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Grindr

In other news, CFO Vandana Mehta-Krantz sold 43,565 shares of Grindr stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.89, for a total value of $735,812.85. Following the transaction, the chief financial officer owned 688,047 shares in the company, valued at approximately $11,621,113.83. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Zachary Katz sold 14,693 shares of Grindr stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total value of $282,840.25. Following the completion of the transaction, the insider owned 595,112 shares in the company, valued at approximately $11,455,906. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,594 shares of company stock worth $1,543,461. Corporate insiders own 67.70% of the company’s stock.

Institutional Investors Weigh In On Grindr

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Grindr during the 1st quarter worth $197,000. Allspring Global Investments Holdings LLC grew its position in Grindr by 5.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company’s stock worth $1,808,000 after acquiring an additional 5,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Grindr during the 4th quarter worth $884,000. GAMMA Investing LLC grew its position in Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after acquiring an additional 662 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in Grindr by 1,277.8% during the 4th quarter. California State Teachers Retirement System now owns 24,511 shares of the company’s stock worth $437,000 after acquiring an additional 22,732 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

About Grindr

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.