Grindr Inc. (NYSE:GRND) Receives $22.33 Consensus PT from Analysts

Shares of Grindr Inc. (NYSE:GRND) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.60.

Several research analysts have recently issued reports on the company. Citizens Jmp lowered their price objective on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. TD Cowen lowered their price target on Grindr from $26.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Finally, Morgan Stanley began coverage on shares of Grindr in a research report on Tuesday. They set an “equal weight” rating and a $14.00 price objective for the company.

Insider Buying and Selling

In related news, major shareholder James Fu Bin Lu sold 475,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $10.01, for a total value of $4,754,750.00. Following the completion of the sale, the insider directly owned 18,432,101 shares of the company’s stock, valued at $184,505,331.01. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have acquired 455,000 shares of company stock worth $5,998,000 and have sold 3,561,266 shares worth $40,185,314. 67.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Grindr in the 2nd quarter valued at $1,832,000. Bryce Point Capital LLC purchased a new position in Grindr during the second quarter worth about $851,000. Tredje AP fonden purchased a new position in shares of Grindr during the 2nd quarter worth approximately $956,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Grindr in the second quarter valued at approximately $7,171,000. Finally, Franklin Resources Inc. grew its holdings in Grindr by 1,060.9% during the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock worth $17,633,000 after acquiring an additional 709,857 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Performance

NYSE:GRND opened at $11.29 on Friday. Grindr has a 12 month low of $9.73 and a 12 month high of $25.13. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $2.09 billion, a PE ratio of -30.52 and a beta of 0.22. The business’s fifty day moving average price is $11.95 and its 200 day moving average price is $13.56.

Grindr Company Profile

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.