Grindr (GRND) Projected to Post Earnings on Wednesday

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

Grindr Stock Down 5.8 %

NYSE GRND opened at $17.93 on Wednesday. The firm has a market cap of $3.17 billion, a P/E ratio of -51.21 and a beta of 0.30. Grindr has a 52-week low of $7.93 and a 52-week high of $19.20. The business’s 50-day moving average price is $17.69 and its 200 day moving average price is $14.83.

Insiders Place Their Bets

In other Grindr news, insider Zachary Katz sold 3,057 shares of the business’s stock in a transaction 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 approximately $10,395,882. The trade was a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Fu Bin Lu sold 683,297 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $15.17, for a total transaction of $10,365,615.49. Following the transaction, the director now directly owns 33,027,338 shares in the company, valued at approximately $501,024,717.46. This trade represents a 2.03 % 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. Company insiders own 76.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GRND shares. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Grindr in a report on Friday, January 24th. The Goldman Sachs Group assumed coverage on shares of Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, TD Cowen upped their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

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.