Grindr (GRND) to Release Quarterly Earnings on Wednesday

Grindr (NYSE:GRND) is projected to release its earnings data after the market closes on Wednesday, March 5th. Analysts expect Grindr to post earnings of $0.07 per share and revenue of $97.05 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Grindr Trading Down 5.8 %

Shares of NYSE GRND opened at $17.93 on Wednesday. The stock has a market cap of $3.17 billion, a P/E ratio of -51.21 and a beta of 0.30. The business’s fifty day simple moving average is $17.69 and its 200-day simple moving average is $14.83. Grindr has a 12-month low of $7.93 and a 12-month high of $19.20.

Insider Activity

In other news, insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $16.40, for a total value of $50,151.20. Following the completion of the transaction, the insider now owns 580,606 shares in the company, valued at approximately $9,521,938.40. This represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Fu Bin Lu sold 750,000 shares of Grindr stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the sale, the director now owns 31,540,655 shares in the company, valued at $477,525,516.70. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,132,623 shares of company stock worth $32,481,656. 76.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

GRND has been the topic of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $21.00 price target (up previously from $19.00) on shares of Grindr in a research report on Friday, January 24th. The Goldman Sachs Group began coverage on shares of Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. TD Cowen boosted their price target on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a report on Thursday, February 6th.

Grindr Company Profile

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.