Grindr (NYSE:GRND) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Grindr (NYSE:GRND) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $20.00 price objective on the stock.

A number of other analysts also recently commented on the company. Raymond James increased their price target on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen raised their price target on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Grindr Stock Up 7.5 %

Shares of Grindr stock opened at $16.92 on Monday. The firm’s 50-day moving average price is $14.27 and its two-hundred day moving average price is $12.41. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -48.34 and a beta of 0.37. Grindr has a 12-month low of $7.83 and a 12-month high of $17.33.

Insider Activity at Grindr

In related news, CFO Vandana Mehta-Krantz sold 60,776 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.29, for a total transaction of $868,489.04. Following the sale, the chief financial officer now owns 722,126 shares of the company’s stock, valued at $10,319,180.54. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kye Chen sold 4,964 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $11.81, for a total transaction of $58,624.84. Following the completion of the sale, the chief accounting officer now owns 130,598 shares in the company, valued at approximately $1,542,362.38. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,405,870 shares of company stock worth $36,366,731 in the last ninety days. 76.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares during the last quarter. Hsbc Holdings PLC grew its position in Grindr by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after purchasing an additional 2,050 shares during the period. nVerses Capital LLC purchased a new stake in Grindr during the 3rd quarter valued at $27,000. Finally, Bleakley Financial Group LLC grew its stake in shares of Grindr by 9.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock valued at $324,000 after purchasing an additional 2,371 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.