Grindr (NYSE:GRND) Given New $21.00 Price Target at Citizens Jmp

Grindr (NYSE:GRND) had its target price reduced by Citizens Jmp from $23.00 to $21.00 in a report published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

GRND has been the subject of a number of other research reports. JMP Securities reduced their target price on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Raymond James Financial lowered their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Grindr Price Performance

GRND stock opened at $15.17 on Monday. Grindr has a one year low of $11.73 and a one year high of $25.13. The firm has a 50-day moving average of $14.47 and a two-hundred day moving average of $18.64. The firm has a market capitalization of $2.91 billion, a PE ratio of -41.00 and a beta of 0.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share. Grindr has set its FY 2025 guidance at EPS. On average, analysts forecast that Grindr will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director George Raymond Zage III purchased 1,000,000 shares of the business’s stock in a transaction dated Thursday, October 9th. The stock was bought at an average cost of $13.15 per share, with a total value of $13,150,000.00. Following the purchase, the director directly owned 7,733,283 shares of the company’s stock, valued at approximately $101,692,671.45. This trade represents a 14.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $13.15, for a total value of $13,150,000.00. Following the sale, the director owned 25,588,867 shares of the company’s stock, valued at approximately $336,493,601.05. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,333,890 shares of company stock valued at $30,208,799 in the last three months. Insiders own 67.70% of the company’s stock.

Institutional Trading of Grindr

Large investors have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after purchasing an additional 1,719 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in Grindr during the second quarter valued at about $39,000. Huntington National Bank bought a new position in Grindr during the second quarter valued at about $64,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after buying an additional 1,002 shares during the last quarter. 7.22% of the stock is owned by institutional investors.

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.