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

Grindr (NYSE:GRND) had its price target upped by JMP Securities from $14.00 to $17.00 in a research report report published on Thursday, Marketbeat Ratings reports. JMP Securities currently has a market outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James assumed coverage on shares of Grindr in a research note on Thursday, April 4th. They set an outperform rating and a $14.00 price objective on the stock. TD Cowen assumed coverage on shares of Grindr in a research note on Thursday, March 28th. They set a buy rating and a $12.00 price objective on the stock.

Grindr Stock Performance

GRND stock opened at $12.24 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 stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -68.00 and a beta of 0.28. Grindr has a 1 year low of $4.49 and a 1 year high of $12.42. The stock’s fifty day moving average is $9.86 and its two-hundred day moving average is $9.36.

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

Insiders Place Their Bets

In other Grindr news, CEO George Arison sold 83,639 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director James Fu Bin Lu sold 388,000 shares of Grindr stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $9.02, for a total value of $3,499,760.00. Following the transaction, the director now owns 35,388,761 shares of the company’s stock, valued at approximately $319,206,624.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Arison sold 83,639 shares of Grindr 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 completion of the transaction, 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. Over the last three months, insiders have sold 1,781,103 shares of company stock worth $17,183,504. 78.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grindr

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in 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 purchasing an additional 1,667 shares in the last quarter. New York State Common Retirement Fund grew 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 valued at $170,000 after acquiring an additional 2,030 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Grindr during the 1st quarter valued at about $209,000. GSA Capital Partners LLP purchased a new position in Grindr during the 1st quarter valued at about $545,000. Finally, Jump Financial LLC purchased a new position in Grindr during the 4th quarter valued at about $617,000. Hedge funds and other institutional investors 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.