Grindr (NYSE:GRND) Rating Reiterated by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Grindr (NYSE:GRND) in a research report released on Monday, Benzinga reports. They currently have a $17.00 price target on the stock.

GRND has been the subject of several other research reports. Raymond James upped their price target on Grindr from $14.00 to $15.00 and gave the stock an outperform rating in a research note on Thursday, June 27th. TD Cowen upped their price target on Grindr from $12.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, June 27th.

Grindr Trading Down 0.2 %

Shares of NYSE GRND opened at $11.67 on Monday. Grindr has a twelve month low of $4.49 and a twelve month high of $12.83. The stock has a 50 day moving average of $10.41 and a two-hundred day moving average of $9.69.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, hitting 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 business had revenue of $75.35 million during the quarter, compared to analysts’ expectations of $72.60 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share. On average, equities research analysts forecast that Grindr will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grindr news, Director James Fu Bin Lu sold 1,000,000 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 37,708,301 shares in the company, valued at $377,083,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Grindr news, CEO George Arison sold 83,639 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $10.15, for a total value of $848,935.85. Following the sale, the chief executive officer now 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 can be accessed through the SEC website. Also, 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 sale, the director now directly owns 37,708,301 shares in the company, valued at approximately $377,083,010. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,781,103 shares of company stock worth $17,183,504. 76.40% of the stock is owned by corporate insiders.

Institutional Trading of Grindr

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Grindr by 5.7% in the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after purchasing an additional 30,574 shares during the last quarter. Park West Asset Management LLC acquired a new stake in Grindr in the fourth quarter valued at $1,652,000. Jump Financial LLC acquired a new stake in Grindr in the fourth quarter valued at $617,000. SG Americas Securities LLC acquired a new stake in Grindr in the second quarter valued at $718,000. Finally, GSA Capital Partners LLP acquired a new stake in Grindr in the first quarter valued at $545,000. 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.