Grindr (NYSE:GRND) Price Target Raised to $26.00 at The Goldman Sachs Group

Grindr (NYSE:GRND) had its price target raised by analysts at The Goldman Sachs Group from $20.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 9.52% from the company’s previous close.

GRND has been the subject of a number of other research reports. JMP Securities restated a “market outperform” rating and issued a $24.00 price objective on shares of Grindr in a research note on Monday, April 21st. Raymond James reiterated an “outperform” rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. Finally, Citigroup restated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $23.25.

Grindr Stock Down 1.0%

Shares of GRND opened at $23.74 on Monday. The company’s fifty day moving average is $19.15 and its 200-day moving average is $17.48. Grindr has a 12 month low of $8.95 and a 12 month high of $24.80. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -67.83 and a beta of 0.28.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. As a group, research analysts predict that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the transaction, the insider now owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 5,058 shares of company stock worth $84,371. 76.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after purchasing an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock valued at $38,000 after acquiring an additional 662 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after acquiring an additional 642 shares during the period. Quarry LP lifted its position in Grindr by 209.2% during 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock worth $83,000 after acquiring an additional 3,880 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

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.