Grindr Inc. (NYSE:GRND - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $25.08 and last traded at $24.66, with a volume of 950113 shares traded. The stock had previously closed at $23.86.
Analyst Ratings Changes
Several brokerages recently weighed in on GRND. JMP Securities restated a "market outperform" rating and set a $24.00 target price on shares of Grindr in a report on Monday, April 21st. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group boosted their target price on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, May 12th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $26.00 target price (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $23.25.
Check Out Our Latest Report on GRND
Grindr Stock Up 1.2%
The business's fifty day moving average is $21.03 and its 200-day moving average is $18.41. The company has a market cap of $4.84 billion, a PE ratio of -70.64 and a beta of 0.28.
Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. Analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.
Insider Activity at Grindr
In other Grindr news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now directly owns 613,800 shares in the company, valued at $9,961,974. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director J Michael Gearon, Jr. sold 283,559 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $24.13, for a total value of $6,842,278.67. Following the transaction, the director now directly owns 6,336,168 shares in the company, valued at approximately $152,891,733.84. This represents a 4.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,002,207 shares of company stock valued at $95,424,038. Insiders own 76.40% of the company's stock.
Hedge Funds Weigh In On Grindr
Large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its holdings in shares of Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after purchasing an additional 459 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after buying an additional 642 shares during the period. GAMMA Investing LLC grew its position in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $517,000 after buying an additional 762 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.
Grindr Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Grindr, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grindr wasn't on the list.
While Grindr currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
