The Goldman Sachs Group Raises Grindr (NYSE:GRND) Price Target to $26.00

Grindr (NYSE:GRND - Get Free Report) had its target price raised by equities research analysts at The Goldman Sachs Group from $20.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 8.78% from the stock's previous close.

Other analysts have also recently issued reports about the stock. JMP Securities restated a "market outperform" rating and set a $24.00 price objective on shares of Grindr in a research note on Monday, April 21st. Citigroup reiterated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Finally, Raymond James reiterated an "outperform" rating and issued a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grindr currently has a consensus rating of "Buy" and a consensus target price of $23.25.

Grindr Stock Down 0.4%

Shares of Grindr stock traded down $0.10 on Monday, reaching $23.90. The stock had a trading volume of 1,240,788 shares, compared to its average volume of 1,718,017. The company has a 50 day moving average price of $18.89 and a 200 day moving average price of $17.36. Grindr has a 1 year low of $8.95 and a 1 year high of $24.80. The stock has a market capitalization of $4.98 billion, a P/E ratio of -68.31 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting 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, analysts forecast that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 8,115 shares of company stock valued at $139,397 over the last 90 days. 76.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grindr

A number of large investors have recently modified their holdings of GRND. CWM LLC boosted its position in shares of Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after acquiring an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted 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 valued at $38,000 after acquiring an additional 662 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after acquiring an additional 642 shares during the last quarter. Quarry LP boosted 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 valued at $61,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Grindr by 511.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after acquiring an additional 3,880 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.

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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