Grindr (NYSE:GRND) Stock Breaks Below 200-Day Moving Average – Time to Sell?

Grindr Inc. (NYSE:GRND)’s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.63 and traded as low as $13.10. Grindr shares last traded at $13.1610, with a volume of 1,667,789 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on GRND. Citigroup reissued a “market outperform” rating on shares of Grindr in a research report on Thursday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $19.00 target price on shares of Grindr in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Grindr Stock Up 0.4%

The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The firm’s 50 day moving average is $15.00 and its two-hundred day moving average is $13.63. The firm has a market capitalization of $2.26 billion, a P/E ratio of 25.98 and a beta of 0.19.

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

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 15,227 shares of Grindr stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $15.23, for a total transaction of $231,907.21. Following the completion of the transaction, the insider directly owned 618,000 shares in the company, valued at approximately $9,412,140. The trade was a 2.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $15.65, for a total value of $54,775.00. Following the transaction, the director directly owned 47,912 shares in the company, valued at $749,822.80. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,531,706 shares of company stock worth $22,287,952 over the last 90 days. Company insiders own 60.90% of the company’s stock.

Institutional Trading of Grindr

A number of hedge funds have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Grindr by 18.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 22,900 shares of the company’s stock valued at $353,000 after acquiring an additional 3,600 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Grindr during the third quarter worth approximately $106,000. Versant Capital Management Inc boosted its holdings in shares of Grindr by 53.8% during the third quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after acquiring an additional 1,338 shares during the period. Tikvah Management LLC grew 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 purchasing an additional 109,100 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Grindr in the second quarter valued at approximately $1,975,000. Institutional investors and hedge funds 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.