Grindr (NYSE:GRND) Price Target Lowered to $17.00 at The Goldman Sachs Group

Grindr (NYSE:GRND) had its price objective reduced by analysts at The Goldman Sachs Group from $20.00 to $17.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 45.55% from the company’s previous close.

Several other analysts also recently commented on GRND. TD Cowen decreased their price objective on shares of Grindr from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Citizens Jmp cut their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Finally, Morgan Stanley started coverage on Grindr in a research note on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Grindr Stock Performance

Grindr stock traded up $0.30 during midday trading on Monday, hitting $11.68. The stock had a trading volume of 628,039 shares, compared to its average volume of 1,594,243. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr has a 52-week low of $9.73 and a 52-week high of $25.13. The company has a market capitalization of $2.16 billion, a PE ratio of -31.50 and a beta of 0.23. The firm’s fifty day moving average is $11.95 and its two-hundred day moving average is $13.52.

Insider Transactions at Grindr

In other news, major shareholder James Fu Bin Lu sold 475,000 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $10.01, for a total transaction of $4,754,750.00. Following the sale, the insider directly owned 18,432,101 shares of the company’s stock, valued at $184,505,331.01. This represents a 2.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders purchased 305,000 shares of company stock valued at $4,061,500 and sold 3,559,766 shares valued at $40,166,264. 67.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grindr

Several large investors have recently bought and sold shares of the business. Bryce Point Capital LLC purchased a new stake in shares of Grindr during the 2nd quarter valued at about $851,000. Tredje AP fonden purchased a new stake in Grindr during the second quarter valued at approximately $956,000. Franklin Resources Inc. lifted its stake in shares of Grindr by 1,060.9% in the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after purchasing an additional 709,857 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in shares of Grindr in the 2nd quarter worth approximately $7,171,000. Finally, XTX Topco Ltd increased its position in shares of Grindr by 279.3% during the 2nd quarter. XTX Topco Ltd now owns 64,625 shares of the company’s stock valued at $1,467,000 after purchasing an additional 47,589 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.