Grindr (NYSE:GRND) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Grindr Inc. (NYSE:GRND)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $13.63 and traded as high as $14.15. Grindr shares last traded at $14.0010, with a volume of 2,296,923 shares trading hands.

Analyst Upgrades and Downgrades

GRND has been the subject of several research reports. Raymond James Financial reiterated an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Grindr in a report on Thursday, October 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Grindr has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Grindr Trading Up 7.1%

The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50-day moving average of $14.75 and a two-hundred day moving average of $13.63. The company has a market cap of $2.43 billion, a P/E ratio of 28.00 and a beta of 0.23.

Grindr (NYSE:GRND) last released its earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%. The company had revenue of $138.14 million during the quarter, compared to analysts’ expectations of $132.50 million. On average, equities research analysts predict that Grindr Inc. will post 0.51 earnings per share for the current year.

Insider Activity at Grindr

In other Grindr news, Director George Zage III sold 350,000 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $14.23, for a total transaction of $4,980,500.00. Following the sale, the director directly owned 6,777,743 shares in the company, valued at approximately $96,447,282.89. This trade represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Zachary Katz sold 15,227 shares of the stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $15.23, for a total value of $231,907.21. Following the sale, the insider directly owned 618,000 shares in the company, valued at $9,412,140. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,518,727 shares of company stock valued at $22,055,758. 60.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grindr

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Grindr during the second quarter valued at $49,159,000. Tikvah Management LLC lifted its position in shares of Grindr by 8.1% in the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after acquiring an additional 109,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock worth $16,881,000 after purchasing an additional 610,111 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Grindr during the 2nd quarter valued at approximately $7,904,000. Finally, SPX Gestao de Recursos Ltda raised its position in shares of Grindr by 13.4% during the first quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock valued at $5,511,000 after buying an additional 54,000 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.