Grindr Inc. (NYSE:GRND) Stock Has Consensus Target Price of $20.00 According to Analysts

Shares of Grindr Inc. (NYSE:GRND) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.00.

A number of equities research analysts have issued reports on GRND shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $19.00 target price on shares of Grindr in a research report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Grindr in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grindr in a research note on Friday, August 7th. Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a report on Tuesday, September 8th.

Insiders Place Their Bets

In related news, Director George Zage III sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $14.23, for a total transaction of $4,980,500.00. Following the transaction, the director owned 6,777,743 shares of the company’s stock, valued at approximately $96,447,282.89. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Zachary Katz sold 15,227 shares of the stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $15.23, for a total transaction of $231,907.21. Following the transaction, the insider owned 618,000 shares in the company, valued at approximately $9,412,140. This trade represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,531,706 shares of company stock valued at $22,287,952 in the last three months. Insiders own 60.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Emmett Investment Management LP bought a new stake in shares of Grindr during the 1st quarter worth about $3,702,000. Canada Pension Plan Investment Board acquired a new position in shares of Grindr during the 2nd quarter valued at about $1,631,000. Tikvah Management LLC raised its stake in shares of Grindr by 8.1% in the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after acquiring an additional 109,100 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Grindr by 194.0% in the 1st quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock valued at $1,427,000 after acquiring an additional 77,867 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Grindr in the 2nd quarter valued at approximately $1,975,000. Institutional investors own 7.22% of the company’s stock.

Grindr Price Performance

NYSE GRND opened at $12.63 on Thursday. The company has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $13.63. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 25.27 and a beta of 0.19. Grindr has a 52-week low of $9.73 and a 52-week high of $18.50.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. Equities research analysts predict that Grindr will post 0.51 earnings per share for the current fiscal year.

Grindr Company Profile

Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.