Grindr Inc. (NYSE:GRND - Get Free Report)'s stock price was up 8.4% during trading on Monday . The company traded as high as $17.01 and last traded at $17.01. Approximately 1,533,315 shares were traded during trading, a decline of 14% from the average daily volume of 1,791,743 shares. The stock had previously closed at $15.69.
Analyst Ratings Changes
A number of equities analysts recently commented on GRND shares. Wall Street Zen lowered shares of Grindr from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. The Goldman Sachs Group raised their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday. Citizens Jmp assumed coverage on shares of Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price on the stock. Finally, Raymond James Financial decreased their target price on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Grindr currently has a consensus rating of "Buy" and an average price target of $22.60.
View Our Latest Research Report on GRND
Grindr Stock Up 1.3%
The company has a market capitalization of $3.24 billion, a P/E ratio of -37.61 and a beta of 0.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 4.22 and a current ratio of 2.48. The firm's fifty day moving average is $20.44 and its 200-day moving average is $19.98.
Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The company's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. As a group, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.
Insider Activity at Grindr
In related news, Director Daniel Brooks Baer sold 2,435 shares of Grindr stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $24.00, for a total transaction of $58,440.00. Following the sale, the director directly owned 24,693 shares of the company's stock, valued at approximately $592,632. The trade was a 8.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Zachary Katz sold 14,693 shares of Grindr stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the sale, the insider directly owned 595,112 shares in the company, valued at $11,455,906. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,112,674 shares of company stock valued at $74,092,796. Company insiders own 67.70% of the company's stock.
Institutional Investors Weigh In On Grindr
Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after buying an additional 1,385 shares during the period. Raymond James Financial Inc. acquired a new stake in Grindr during the 2nd quarter worth approximately $39,000. CWM LLC boosted its position in Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after buying an additional 1,719 shares during the period. GAMMA Investing LLC boosted its position in 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 during the period. Finally, Russell Investments Group Ltd. boosted its position in Grindr by 31.9% during 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. 7.22% of the stock is currently 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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