Grindr (NYSE:GRND) Shares Gap Up Following Better-Than-Expected Earnings

Grindr Inc. (NYSE:GRND) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $13.59, but opened at $14.81. Grindr shares last traded at $15.2880, with a volume of 670,118 shares changing hands.

The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The firm had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the previous year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

GRND has been the subject of several recent analyst reports. Raymond James Financial lowered their target price on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, JMP Securities decreased their target price 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. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Buying and Selling

In other news, insider Zachary Katz sold 15,601 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $13.73, for a total transaction of $214,201.73. Following the completion of the transaction, the insider directly owned 532,738 shares in the company, valued at approximately $7,314,492.74. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Fu Bin Lu sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $13.13, for a total value of $3,282,500.00. Following the sale, the director directly owned 23,888,867 shares in the company, valued at approximately $313,660,823.71. The trade was a 1.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,377,455 shares of company stock valued at $30,944,612 over the last three months. Insiders own 67.70% of the company’s stock.

Institutional Trading of Grindr

Several large investors have recently added to or reduced their stakes in GRND. Vanguard Group Inc. lifted its position in Grindr by 23.5% during the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock worth $30,690,000 after buying an additional 325,996 shares in the last quarter. Bank of America Corp DE increased its stake in Grindr by 93.5% during the 2nd quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after acquiring an additional 608,554 shares during the period. Nuveen LLC acquired a new position in shares of Grindr in the 1st quarter valued at approximately $20,049,000. Bwcp LP boosted its stake in Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after buying an additional 418,994 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Grindr by 7.7% during the first quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company’s stock worth $18,777,000 after buying an additional 74,703 shares during the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Trading Up 12.1%

The firm’s 50-day moving average is $14.49 and its 200 day moving average is $18.73. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -34.39 and a beta of 0.22. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43.

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.