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

Grindr Inc. (NYSE:GRND - Get Free Report) has been assigned an average rating of "Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $23.25.

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

Insider Buying and Selling at Grindr

In other Grindr news, Director J Michael Gearon, Jr. sold 283,559 shares of Grindr stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.13, for a total value of $6,842,278.67. Following the sale, the director now owns 6,336,168 shares of the company's stock, valued at $152,891,733.84. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Fu Bin Lu sold 200,811 shares of Grindr stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $24.05, for a total value of $4,829,504.55. Following the completion of the sale, the director now directly owns 28,082,445 shares in the company, valued at approximately $675,382,802.25. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,054,770 shares of company stock valued at $48,848,167. Company insiders own 76.40% of the company's stock.

Hedge Funds Weigh In On Grindr

Several hedge funds have recently modified their holdings of the stock. Ascent Group LLC bought a new stake in Grindr during the first quarter worth about $262,000. Voleon Capital Management LP increased its position in shares of Grindr by 172.8% during the 1st quarter. Voleon Capital Management LP now owns 186,000 shares of the company's stock worth $3,329,000 after purchasing an additional 117,806 shares during the last quarter. Petrus Trust Company LTA acquired a new position in shares of Grindr during the 1st quarter worth approximately $1,167,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock worth $517,000 after purchasing an additional 762 shares in the last quarter. Finally, Bwcp LP boosted its holdings in shares of Grindr by 61.8% in the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company's stock valued at $19,629,000 after buying an additional 418,994 shares during the last quarter. Institutional investors own 7.22% of the company's stock.

Grindr Price Performance

Shares of NYSE GRND traded down $0.26 during mid-day trading on Thursday, hitting $24.12. The company's stock had a trading volume of 343,577 shares, compared to its average volume of 1,079,342. Grindr has a one year low of $8.95 and a one year high of $24.80. The company's fifty day simple moving average is $20.09 and its 200-day simple moving average is $17.89. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -68.83 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting 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, sell-side analysts predict that Grindr will post 0.29 EPS for the current year.

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.

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