Analysts Set Grindr Inc. (NYSE:GRND) Price Target at $23.25

Shares of Grindr Inc. (NYSE:GRND - Get Free Report) have received an average rating of "Buy" from the five ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $23.25.

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

Grindr Trading Down 0.8%

Shares of NYSE:GRND traded down $0.19 on Thursday, reaching $23.81. The company had a trading volume of 464,472 shares, compared to its average volume of 1,738,752. The firm has a market capitalization of $4.66 billion, a PE ratio of -68.03 and a beta of 0.28. Grindr has a 52-week low of $8.95 and a 52-week high of $24.80. The firm's 50 day simple moving average is $20.51 and its 200-day simple moving average is $18.14.

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, meeting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, equities research analysts predict that Grindr will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the transaction, the insider now directly owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Michael Gearon, Jr. sold 477,570 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $23.64, for a total value of $11,289,754.80. Following the completion of the transaction, the director now owns 5,500,000 shares of the company's stock, valued at $130,020,000. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,054,770 shares of company stock worth $48,848,167. 76.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its position in Grindr by 140.5% in the fourth quarter. SG Americas Securities LLC now owns 155,893 shares of the company's stock valued at $2,781,000 after buying an additional 91,077 shares during the last quarter. R Squared Ltd acquired a new stake in Grindr during the 4th quarter valued at approximately $101,000. Bleakley Financial Group LLC boosted its holdings in shares of Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after acquiring an additional 1,524 shares during the last quarter. Savant Capital LLC increased its stake in shares of Grindr by 9.6% in the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock worth $345,000 after acquiring an additional 1,689 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Grindr in the fourth quarter worth $1,649,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

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.