Grindr (NYSE:GRND) Stock Price Up 2.2% - Time to Buy?

Grindr Inc. (NYSE:GRND - Get Free Report)'s stock price rose 2.2% on Friday . The company traded as high as $17.28 and last traded at $17.39. Approximately 168,019 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 788,020 shares. The stock had previously closed at $17.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on GRND. Raymond James restated an "outperform" rating and set a $22.00 target price on shares of Grindr in a research note on Thursday, March 6th. JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group assumed coverage on Grindr in a report on Monday, December 16th. They set a "buy" rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $20.00.

Grindr Stock Up 0.2 %

The business's fifty day moving average is $17.58 and its 200-day moving average is $15.56. The company has a market cap of $3.78 billion, a PE ratio of -51.89 and a beta of 0.30.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $16.40, for a total value of $50,151.20. Following the transaction, the insider now directly owns 580,606 shares of the company's stock, valued at approximately $9,521,938.40. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 11,173 shares of company stock worth $187,729 in the last 90 days. 76.40% of the stock is currently owned by insiders.

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Institutional Trading of Grindr

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock valued at $2,772,000 after buying an additional 93,005 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Grindr by 219.9% during the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company's stock valued at $2,145,000 after purchasing an additional 123,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Grindr by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company's stock worth $2,287,000 after purchasing an additional 17,678 shares during the period. Graypoint LLC bought a new position in shares of Grindr in the fourth quarter worth approximately $1,211,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Grindr during the 3rd quarter valued at $365,000. 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.