Grindr Inc. (NYSE:GRND) Receives $24.60 Average PT from Analysts

Grindr Inc. (NYSE:GRND - Get Free Report) has been given an average rating of "Buy" by the five brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.60.

A number of analysts have commented on the company. The Goldman Sachs Group lifted their target price on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities lifted their target price on Grindr from $24.00 to $27.00 and gave the stock a "market outperform" rating in a report on Monday, June 30th. Raymond James Financial reissued an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Wall Street Zen raised Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Citizens Jmp began coverage on Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective for the company.

Insider Buying and Selling

In related news, CFO Vandana Mehta-Krantz sold 20,982 shares of Grindr stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $22.18, for a total value of $465,380.76. Following the completion of the sale, the chief financial officer owned 731,612 shares of the company's stock, valued at $16,227,154.16. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Brooks Baer sold 2,435 shares of Grindr stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $24.00, for a total value of $58,440.00. Following the transaction, the director owned 24,693 shares in the company, valued at $592,632. This trade represents a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,624,558 shares of company stock valued at $110,505,664 over the last ninety days. 67.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BIT Capital GmbH lifted its position in Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock valued at $71,165,000 after purchasing an additional 349,189 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Grindr by 23.5% in the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company's stock valued at $30,690,000 after acquiring an additional 325,996 shares in the last quarter. Nuveen LLC purchased a new position in shares of Grindr in the first quarter valued at about $20,049,000. Marshall Wace LLP lifted its position in shares of Grindr by 85.2% in the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after acquiring an additional 513,770 shares in the last quarter. Finally, Bwcp LP lifted its position in shares of Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company's stock valued at $19,629,000 after acquiring an additional 418,994 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Grindr Stock Up 3.0%

NYSE:GRND traded up $0.64 during trading hours on Friday, reaching $21.81. 1,525,393 shares of the company traded hands, compared to its average volume of 1,205,256. The stock has a market capitalization of $4.27 billion, a P/E ratio of -33.55 and a beta of 0.28. The business's 50-day moving average price is $23.16 and its two-hundred day moving average price is $19.84. Grindr has a 1 year low of $10.26 and a 1 year high of $25.13. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a positive return on equity of 219.47% and a negative net margin of 26.04%. Analysts predict that Grindr will post 0.29 earnings per share for the current 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.