Brokerages Set Grindr Inc. (NYSE:GRND) Target Price at $20.00

by · The Cerbat Gem

Grindr Inc. (NYSE:GRND – Get Free Report) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.00.

Several research analysts have recently weighed in on GRND shares. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. The Goldman Sachs Group restated a “buy” rating and issued a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Grindr in a report on Monday, June 1st.

Get Our Latest Analysis on Grindr

Grindr Trading Down 2.5%

GRND opened at $15.34 on Wednesday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 30.67 and a beta of 0.19. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr has a 12 month low of $9.73 and a 12 month high of $18.50. The firm’s fifty day simple moving average is $15.87 and its 200 day simple moving average is $13.92.

Grindr (NYSE:GRND – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) 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 the consensus estimate of $132.50 million. As a group, research analysts anticipate that Grindr will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 12,979 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $17.89, for a total transaction of $232,194.31. Following the sale, the insider directly owned 690,172 shares of the company’s stock, valued at $12,347,177.08. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Baer sold 3,500 shares of the 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,078 shares of company stock worth $682,859 over the last quarter. Company insiders own 60.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRND. CWM LLC boosted its holdings in shares of Grindr by 713.8% in the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after buying an additional 2,584 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Grindr during the fourth quarter worth $45,000. Covestor Ltd increased its holdings in Grindr by 49,170.0% during the fourth quarter. Covestor Ltd now owns 4,927 shares of the company’s stock worth $67,000 after buying an additional 4,917 shares during the last quarter. State of Wyoming bought a new stake in Grindr during the second quarter worth $83,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Grindr during the second quarter worth $159,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Company Profile

(Get Free Report)

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.

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