Grindr (NYSE:GRND) PT Raised to $17.00 at JMP Securities

Grindr (NYSE:GRND) had its price target increased by JMP Securities from $14.00 to $17.00 in a research note released on Thursday morning, MarketBeat Ratings reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages have also weighed in on GRND. Raymond James assumed coverage on Grindr in a research report on Thursday, April 4th. They set an outperform rating and a $14.00 price objective on the stock. TD Cowen assumed coverage on Grindr in a research report on Thursday, March 28th. They set a buy rating and a $12.00 price objective on the stock.

Grindr Trading Down 0.4 %

Shares of GRND opened at $12.24 on Thursday. Grindr has a 52-week low of $4.49 and a 52-week high of $12.42. The business’s fifty day moving average is $9.86 and its 200-day moving average is $9.36. 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 firm has a market cap of $2.15 billion, a price-to-earnings ratio of -68.00 and a beta of 0.28.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. The company had revenue of $75.35 million for the quarter, compared to analyst estimates of $72.60 million. During the same quarter last year, the company posted ($0.19) EPS. Equities analysts anticipate that Grindr will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Grindr news, CEO George Arison sold 2,931 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total value of $29,310.00. Following the sale, the chief executive officer now owns 3,022,666 shares in the company, valued at approximately $30,226,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. Following the sale, the director now owns 37,708,301 shares in the company, valued at approximately $377,083,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George Arison sold 2,931 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $10.00, for a total value of $29,310.00. Following the completion of the sale, the chief executive officer now owns 3,022,666 shares in the company, valued at approximately $30,226,660. The disclosure for this sale can be found here. Insiders have sold 1,781,103 shares of company stock worth $17,183,504 in the last 90 days. Insiders own 78.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 1,667 shares during the period. New York State Common Retirement Fund raised its stake in 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 buying an additional 2,030 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Grindr during the 1st quarter worth approximately $209,000. Vanguard Group Inc. raised its stake in Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after buying an additional 30,574 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Grindr during the 1st quarter worth approximately $545,000. 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.