Grindr (GRND) Scheduled to Post Earnings on Thursday

Grindr (NYSE:GRND) is scheduled to announce its earnings results after the market closes on Thursday, August 8th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Grindr has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $75.35 million during the quarter, compared to analyst estimates of $72.60 million. Grindr had a negative net margin of 11.56% and a positive return on equity of 3,761.31%. During the same quarter last year, the business posted ($0.19) earnings per share. On average, analysts expect Grindr to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Grindr Price Performance

NYSE GRND opened at $11.29 on Wednesday. The stock’s 50 day simple moving average is $10.87 and its 200 day simple moving average is $9.96. Grindr has a one year low of $4.49 and a one year high of $12.83. The firm has a market cap of $1.98 billion, a PE ratio of -62.72 and a beta of 0.35.

Insider Buying and Selling at Grindr

In other news, Director James Fu Bin Lu sold 11,270 shares of Grindr stock in a transaction on Monday, May 13th. The shares were sold at an average price of $10.00, for a total transaction of $112,700.00. Following the transaction, the director now directly owns 11,562 shares of the company’s stock, valued at $115,620. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Grindr news, Director James Fu Bin Lu sold 11,270 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $10.00, for a total value of $112,700.00. Following the completion of the sale, the director now directly owns 11,562 shares in the company, valued at $115,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Arison sold 2,931 shares of Grindr stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $10.00, for a total value of $29,310.00. Following the transaction, the chief executive officer now owns 3,022,666 shares in the company, valued at approximately $30,226,660. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,781,103 shares of company stock valued at $17,183,504. Corporate insiders own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GRND. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Grindr in a research report on Monday, July 15th. TD Cowen lifted their target price on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Raymond James increased their price target on Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th.

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.