Grindr (NYSE:GRND) PT Raised to $15.00 at Raymond James

Grindr (NYSE:GRND) had its price objective raised by analysts at Raymond James from $14.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 26.96% from the stock’s current price.

GRND has been the topic of a number of other reports. TD Cowen assumed coverage on Grindr in a research report on Thursday, March 28th. They set a “buy” rating and a $12.00 target price on the stock. JMP Securities lifted their target price on Grindr from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday.

Grindr Trading Up 15.3 %

Grindr stock opened at $11.82 on Thursday. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $9.77 and its 200-day simple moving average is $9.29. The firm has a market capitalization of $2.08 billion, a PE ratio of -65.64 and a beta of 0.28. Grindr has a 52 week low of $4.49 and a 52 week high of $12.15.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $75.35 million for 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 period in the previous year, the company posted ($0.19) earnings per share.

Insider Buying and Selling at Grindr

In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction that occurred on 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 sale, the director now directly owns 37,708,301 shares of the company’s stock, valued at $377,083,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction that occurred on 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 sale, the director now directly owns 37,708,301 shares of the company’s stock, valued at $377,083,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Arison sold 83,639 shares of Grindr stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $10.15, for a total value of $848,935.85. Following the sale, the chief executive officer now directly owns 3,029,027 shares in the company, valued at $30,744,624.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,778,172 shares of company stock valued at $17,154,194. 78.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Grindr by 16.5% in 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 boosted its holdings in shares of Grindr by 11.7% in the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock worth $170,000 after acquiring an additional 2,030 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Grindr in the 1st quarter worth approximately $209,000. GSA Capital Partners LLP acquired a new position in shares of Grindr in the 1st quarter worth approximately $545,000. Finally, Jump Financial LLC acquired a new position in shares of Grindr in the 4th quarter worth approximately $617,000. 7.22% of the stock is owned by institutional investors and hedge funds.

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.