Citizens Jmp Has Lowered Expectations for Grindr (NYSE:GRND) Stock Price

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

A number of other research analysts have also weighed in on the stock. Raymond James Financial dropped their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. 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 reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Trading Up 11.2%

NYSE:GRND opened at $15.11 on Monday. The company has a market cap of $2.90 billion, a PE ratio of -40.84 and a beta of 0.22. 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 $14.48 and a 200-day moving average of $18.68. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82.

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

Insider Buying and Selling

In related news, insider Zachary Katz sold 15,601 shares of Grindr stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $13.73, for a total value of $214,201.73. Following the completion of the transaction, the insider directly owned 532,738 shares in the company, valued at approximately $7,314,492.74. The trade was a 2.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Fu Bin Lu sold 1,000,000 shares of the stock in a transaction on Thursday, October 9th. The stock was 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 in the company, valued at approximately $336,493,601.05. This represents a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,333,890 shares of company stock valued at $30,208,799. Company insiders own 67.70% of the company’s stock.

Institutional Trading of Grindr

A number of institutional investors have recently added to or reduced their stakes in GRND. Vanguard Group Inc. grew its holdings in Grindr by 0.4% during the 3rd 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 in the last quarter. Bank of America Corp DE increased its holdings in Grindr by 93.5% during the 2nd quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after acquiring an additional 608,554 shares during the period. Nuveen LLC purchased a new stake in Grindr in the 1st quarter worth approximately $20,049,000. Bwcp LP lifted its stake in 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 purchasing an additional 418,994 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in 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. Hedge funds and other 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.