Shares of Grindr Inc. (NYSE:GRND – Get Free Report) have been given an average recommendation of “Buy” by the five research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.25.
GRND has been the topic of several research analyst reports. Raymond James Financial restated an “outperform” rating and issued a $26.00 price objective (up from $22.00) on shares of Grindr in a research report on Friday, May 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Wall Street Zen raised Grindr from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group upped their target price on Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 12th.
Read Our Latest Research Report on Grindr
Insider Activity
Institutional Trading of Grindr
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after purchasing an additional 1,719 shares in the last quarter. GAMMA Investing LLC raised its holdings in Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after purchasing an additional 662 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after purchasing an additional 642 shares in the last quarter. Quarry LP raised its holdings in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company’s stock worth $61,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Grindr by 511.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock worth $83,000 after purchasing an additional 3,880 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.
Grindr Trading Down 0.2%
Shares of GRND opened at $22.98 on Monday. The business’s 50-day moving average price is $22.48 and its 200-day moving average price is $19.11. Grindr has a twelve month low of $9.42 and a twelve month high of $25.13. The stock has a market cap of $4.50 billion, a PE ratio of -35.35 and a beta of 0.31. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.85.
Grindr (NYSE:GRND – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. On average, equities analysts forecast that Grindr will post 0.29 EPS for the current fiscal year.
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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