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

Grindr (NYSE:GRND) posted 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 return on equity of 177.83% and a negative net margin of 16.27%.

Grindr Stock Down 3.3 %

Shares of NYSE:GRND traded down $0.53 on Friday, reaching $15.18. The company had a trading volume of 3,946,356 shares, compared to its average volume of 1,477,743. The stock has a market capitalization of $2.68 billion, a P/E ratio of -43.36 and a beta of 0.30. The stock has a 50-day moving average price of $17.76 and a 200 day moving average price of $15.09. Grindr has a twelve month low of $8.95 and a twelve month high of $19.20.

Insider Activity at Grindr

In other Grindr news, Director James Fu Bin Lu sold 750,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Monday, January 13th. The stock was 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 $9,521,938.40. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 757,115 shares of company stock valued at $11,476,757. Corporate insiders own 76.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GRND. Raymond James reiterated an “outperform” rating and issued a $21.00 target price (up previously from $19.00) on shares of Grindr in a research report on Friday, January 24th. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research note 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.