Grindr (NYSE:GRND) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Grindr (NYSE:GRND) released its quarterly earnings results on Friday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02, Zacks reports. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%.

Grindr Trading Down 3.3 %

NYSE:GRND traded down $0.53 on Friday, hitting $15.18. The company had a trading volume of 3,946,356 shares, compared to its average volume of 1,476,946. The firm has a 50 day moving average of $17.81 and a two-hundred day moving average of $15.08. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -43.36 and a beta of 0.30. Grindr has a 52 week low of $8.95 and a 52 week high of $19.20.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total transaction of $55,026.00. Following the sale, the insider now directly owns 577,549 shares in the company, valued at $10,395,882. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Fu Bin Lu sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the completion of the transaction, the director now owns 31,540,655 shares of the company’s stock, valued at approximately $477,525,516.70. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,115 shares of company stock worth $11,476,757. Corporate insiders own 76.40% of the company’s stock.

Analysts Set New Price Targets

GRND has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $21.00 price target (up from $19.00) on shares of Grindr in a research note on Friday, January 24th. Finally, The Goldman Sachs Group began coverage on shares of Grindr in a research report on Monday, December 16th. They set a “buy” rating and a $20.00 price objective for the company.

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.