Grindr Inc. (NYSE:GRND - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $24.21 and last traded at $23.24, with a volume of 1184 shares changing hands. The stock had previously closed at $23.15.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Raymond James restated an "outperform" rating and set a $22.00 price target on shares of Grindr in a research report on Thursday, March 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 price target on shares of Grindr in a report on Monday, April 21st. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $20.75.
Check Out Our Latest Stock Analysis on GRND
Grindr Trading Up 1.8 %
The business has a fifty day moving average price of $18.77 and a two-hundred day moving average price of $17.24. The firm has a market capitalization of $5.09 billion, a PE ratio of -69.87 and a beta of 0.28.
Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share 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, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Zachary Katz sold 3,057 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total transaction of $55,026.00. Following the sale, the insider now owns 577,549 shares of the company's stock, valued at approximately $10,395,882. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 8,115 shares of company stock valued at $139,397. Corporate insiders own 76.40% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of GRND. CWM LLC grew its position in shares of Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after buying an additional 1,719 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after purchasing an additional 662 shares during the last quarter. Russell Investments Group Ltd. raised 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 valued at $47,000 after purchasing an additional 642 shares in the last quarter. Quarry LP lifted its position in shares of Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after purchasing an additional 3,880 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.
About Grindr
(
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.
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