Grindr (NYSE:GRND) Price Target Increased to $17.00 by Analysts at JMP Securities

Grindr (NYSE:GRND) had its price target raised by JMP Securities from $14.00 to $17.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective indicates a potential upside of 43.88% from the stock’s current price.

Several other research analysts have also weighed in on GRND. TD Cowen started coverage on Grindr in a research report on Thursday, March 28th. They issued a “buy” rating and a $12.00 target price on the stock. Raymond James initiated coverage on Grindr in a research note on Thursday, April 4th. They issued an “outperform” rating and a $14.00 price objective on the stock.

Grindr Trading Up 15.3 %

Shares of Grindr stock opened at $11.82 on Thursday. The firm has a market cap of $2.08 billion, a PE ratio of -65.64 and a beta of 0.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 13.21. Grindr has a fifty-two week low of $4.49 and a fifty-two week high of $12.15. The business’s fifty day moving average is $9.77 and its two-hundred day moving average is $9.29.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Grindr had a negative net margin of 11.56% and a positive return on equity of 3,761.31%. The company had revenue of $75.35 million during the quarter, compared to the consensus estimate of $72.60 million. During the same quarter in the prior year, the company posted ($0.19) EPS.

Insider Buying and Selling

In other Grindr news, CEO George Arison sold 83,639 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $10.15, for a total value of $848,935.85. Following the transaction, the chief executive officer now directly owns 3,029,027 shares of the company’s stock, valued at $30,744,624.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $10.00, for a total value of $10,000,000.00. Following the completion of the transaction, the director now directly owns 37,708,301 shares in the company, valued at $377,083,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Arison sold 83,639 shares of Grindr stock in a transaction on Monday, June 17th. The stock was sold at an average price of $10.15, for a total transaction of $848,935.85. Following the sale, the chief executive officer now directly owns 3,029,027 shares in the company, valued at approximately $30,744,624.05. The disclosure for this sale can be found here. In the last three months, insiders sold 1,778,172 shares of company stock valued at $17,154,194. Company insiders own 78.20% of the company’s stock.

Institutional Investors Weigh In On Grindr

Hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Grindr by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock worth $170,000 after purchasing an additional 2,030 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Grindr during the 1st quarter valued at approximately $209,000. GSA Capital Partners LLP acquired a new position in shares of Grindr during the first quarter valued at $545,000. Finally, Jump Financial LLC bought a new position in shares of Grindr during the fourth quarter worth about $617,000. Institutional investors and hedge funds 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.