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

Shares of Grindr Inc. (NYSE:GRND) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.00.

A number of analysts have recently issued reports on GRND shares. Raymond James Financial restated an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Grindr in a research note on Thursday, October 1st.

Insider Activity

In related news, insider Zachary Katz sold 12,979 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.89, for a total value of $232,194.31. Following the completion of the transaction, the insider owned 690,172 shares of the company’s stock, valued at $12,347,177.08. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $15.65, for a total transaction of $54,775.00. Following the transaction, the director owned 47,912 shares of the company’s stock, valued at approximately $749,822.80. This represents a 6.81% 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. In the last three months, insiders have sold 1,016,479 shares of company stock worth $14,995,045. Corporate insiders own 60.90% of the company’s stock.

Institutional Investors Weigh In On Grindr

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its holdings in shares of Grindr by 53.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after buying an additional 1,338 shares in the last quarter. Tikvah Management LLC boosted its stake in 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 buying an additional 109,100 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Grindr in the second quarter valued at $1,975,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Grindr in the second quarter valued at $277,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Grindr in the second quarter valued at $159,000. 7.22% of the stock is currently owned by institutional investors.

Grindr Stock Up 2.7%

NYSE GRND opened at $13.91 on Friday. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day simple moving average of $15.77 and a 200 day simple moving average of $14.27. Grindr has a twelve month low of $9.73 and a twelve month high of $18.50. The stock has a market cap of $2.42 billion, a PE ratio of 27.82 and a beta of 0.19.

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

About Grindr

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.