Citizens Jmp Cuts Grindr (NYSE:GRND) Price Target to $21.00

Grindr (NYSE:GRND) had its price objective reduced by analysts at Citizens Jmp from $23.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 38.97% from the stock’s current price.

A number of other brokerages have also recently commented on GRND. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. JMP Securities cut their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Raymond James Financial decreased their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Grindr currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Grindr Stock Up 11.2%

GRND opened at $15.11 on Monday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -40.84 and a beta of 0.22. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $14.48 and its 200-day simple moving average is $18.68. Grindr has a twelve month low of $11.73 and a twelve month high of $25.13.

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

Insider Buying and Selling at Grindr

In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the completion of the sale, the director directly owned 25,588,867 shares in the company, valued at $336,493,601.05. This represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Raymond Zage III purchased 1,000,000 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was acquired at an average price of $13.15 per share, for a total transaction of $13,150,000.00. Following the purchase, the director owned 7,733,283 shares in the company, valued at approximately $101,692,671.45. The trade was a 14.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 2,333,890 shares of company stock worth $30,208,799 over the last three months. Corporate insiders own 67.70% of the company’s stock.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock valued at $34,430,000 after buying an additional 9,952 shares during the period. Bank of America Corp DE raised its stake in Grindr by 93.5% during the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after buying an additional 608,554 shares during the last quarter. Nuveen LLC bought a new stake in Grindr during the first quarter valued at $20,049,000. Bwcp LP raised its position in shares of Grindr by 61.8% in the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock worth $19,629,000 after acquiring an additional 418,994 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Grindr by 7.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company’s stock valued at $18,777,000 after purchasing an additional 74,703 shares during the period. Institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

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.