Grindr (GRND) Projected to Post Earnings on Wednesday

Grindr (NYSE:GRND) is projected to announce its earnings results 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 interested in participating in the company’s conference call can do so using this link.

Grindr Trading Up 1.3 %

Grindr stock opened at $18.58 on Tuesday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -53.09 and a beta of 0.30. The company’s 50-day moving average price is $17.78 and its two-hundred day moving average price is $15.01. Grindr has a 52 week low of $7.93 and a 52 week high of $19.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GRND shares. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and issued a $21.00 price objective (up previously from $19.00) on shares of Grindr in a research note on Friday, January 24th. TD Cowen lifted their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group started 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.

Insiders Place Their Bets

In related news, insider Zachary Katz sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $16.40, for a total transaction of $50,151.20. Following the completion of the sale, the insider now directly owns 580,606 shares in the company, valued at approximately $9,521,938.40. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Fu Bin Lu sold 750,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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. Insiders sold a total of 1,449,326 shares of company stock worth $22,116,040 over the last ninety days. 76.40% of the stock is currently owned by company insiders.

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.