Grindr Inc. (NYSE:GRND) Receives Average Rating of "Buy" from Analysts

Shares of Grindr Inc. (NYSE:GRND - Get Free Report) have received a consensus rating of "Buy" from the five analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $23.25.

Several equities research analysts recently issued reports on GRND shares. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Raymond James reiterated an "outperform" rating and set a $26.00 price objective (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th.

Insider Buying and Selling

In other news, Director Daniel Brooks Baer sold 2,000 shares of Grindr stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $23.98, for a total transaction of $47,960.00. Following the sale, the director now owns 27,128 shares of the company's stock, valued at approximately $650,529.44. The trade was a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $23.71, for a total value of $11,855,000.00. Following the completion of the sale, the director now owns 6,619,727 shares in the company, valued at approximately $156,953,727.17. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,517,581 shares of company stock valued at $108,031,475. Insiders own 76.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRND. XTX Topco Ltd lifted its position in shares of Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock worth $305,000 after purchasing an additional 459 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after acquiring an additional 642 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grindr by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock worth $517,000 after acquiring an additional 762 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Stock Performance

Grindr stock traded up $0.46 during trading on Monday, hitting $23.47. The company's stock had a trading volume of 1,602,423 shares, compared to its average volume of 1,157,708. The stock's fifty day moving average is $22.14 and its 200 day moving average is $19.00. Grindr has a 1-year low of $9.42 and a 1-year high of $25.13. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -67.05 and a beta of 0.31.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, research analysts anticipate that Grindr will post 0.29 EPS for the current fiscal year.

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.