Grindr (NYSE:GRND) Sets New 1-Year Low – Time to Sell?

Shares of Grindr Inc. (NYSE:GRND) hit a new 52-week low on Thursday . The company traded as low as $11.31 and last traded at $11.4750, with a volume of 233720 shares changing hands. The stock had previously closed at $11.62.

Wall Street Analyst Weigh In

GRND has been the topic of several analyst reports. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Finally, Citizens Jmp cut their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Stock Down 2.0%

The firm has a 50-day moving average price of $12.98 and a two-hundred day moving average price of $14.66. The company has a market capitalization of $2.10 billion, a P/E ratio of -30.67 and a beta of 0.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Grindr’s revenue was up 29.6% compared to the same quarter last year. Equities research analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Grindr

In related news, major shareholder James Fu Bin Lu sold 200,000 shares of Grindr stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total transaction of $2,348,000.00. Following the sale, the insider directly owned 20,494,867 shares of the company’s stock, valued at $240,609,738.58. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 605,000 shares of company stock valued at $7,930,000 and have sold 3,057,750 shares valued at $41,513,548. Insiders own 67.70% of the company’s stock.

Institutional Trading of Grindr

Institutional investors have recently modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in shares of Grindr by 442.6% in the third quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock valued at $14,149,000 after purchasing an additional 1,217,017 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after acquiring an additional 1,058,084 shares during the period. Norges Bank bought a new position in shares of Grindr during the 2nd quarter worth about $16,618,000. Franklin Resources Inc. boosted its position in shares of Grindr by 1,060.9% during the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Grindr by 288.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after acquiring an additional 618,227 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.