Grindr (NYSE:GRND) Sees Large Volume Increase

Grindr Inc. (NYSE:GRNDGet Free Report) saw an uptick in trading volume on Friday . 274,580 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 423,621 shares.The stock last traded at $10.13 and had previously closed at $9.43.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GRND. JMP Securities reissued a “market outperform” rating and issued a $14.00 price target on shares of Grindr in a research report on Monday, April 22nd. TD Cowen assumed coverage on Grindr in a research note on Thursday, March 28th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Raymond James assumed coverage on Grindr in a report on Thursday, April 4th. They issued an “outperform” rating and a $14.00 price objective for the company.

Get Our Latest Stock Analysis on Grindr

Grindr Stock Up 8.7 %

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 13.21. The firm has a market cap of $1.80 billion, a PE ratio of -56.11 and a beta of 0.28. The stock has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $9.09.

Grindr (NYSE:GRNDGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $75.35 million during the quarter, compared to analyst estimates of $72.60 million. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. During the same quarter in the previous year, the firm earned ($0.19) EPS.

Insider Buying and Selling at Grindr

In other news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total transaction of $10,000,000.00. Following the completion of the sale, the director now owns 37,708,301 shares in the company, valued at approximately $377,083,010. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 78.20% of the company’s stock.

Institutional Trading of Grindr

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after acquiring an additional 30,574 shares during the last quarter. Alta Fox Capital Management LLC bought a new stake in Grindr in the 3rd quarter worth approximately $1,162,000. Park West Asset Management LLC bought a new stake in Grindr in the 4th quarter worth approximately $1,652,000. Jump Financial LLC bought a new stake in Grindr in the 4th quarter worth approximately $617,000. Finally, GSA Capital Partners LLP bought a new stake in Grindr in the 1st quarter worth approximately $545,000. Institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

(Get Free Report)

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.

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