Grindr (NYSE:GRND) Earns Outperform Rating from Analysts at Citizens Jmp

Equities research analysts at Citizens Jmp began coverage on shares of Grindr (NYSE:GRND - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set an "outperform" rating and a $27.00 price target on the stock. Citizens Jmp's price target indicates a potential upside of 19.57% from the stock's current price.

Several other research analysts also recently issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price target on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. Wall Street Zen upgraded shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Grindr presently has a consensus rating of "Buy" and a consensus target price of $24.60.

Grindr Stock Up 1.8%

NYSE:GRND traded up $0.41 during midday trading on Monday, hitting $22.58. 869,983 shares of the company were exchanged, compared to its average volume of 1,181,667. Grindr has a fifty-two week low of $10.26 and a fifty-two week high of $25.13. The company has a market capitalization of $4.42 billion, a PE ratio of 73.90 and a beta of 0.28. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $23.13 and a 200 day simple moving average of $19.58.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grindr had a positive return on equity of 219.47% and a negative net margin of 26.04%. As a group, equities analysts anticipate that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vandana Mehta-Krantz sold 20,982 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $22.18, for a total transaction of $465,380.76. Following the sale, the chief financial officer owned 731,612 shares of the company's stock, valued at approximately $16,227,154.16. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Fu Bin Lu sold 852,567 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $23.93, for a total transaction of $20,401,928.31. Following the completion of the transaction, the director directly owned 26,588,867 shares of the company's stock, valued at approximately $636,271,587.31. This trade represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,610,866 shares of company stock valued at $110,193,788 in the last quarter. Corporate insiders own 76.40% of the company's stock.

Institutional Investors Weigh In On Grindr

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Grindr by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 33,919 shares of the company's stock worth $605,000 after purchasing an additional 3,341 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Grindr during the 4th quarter worth $201,000. Bank of New York Mellon Corp boosted its position in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Grindr by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 195,298 shares of the company's stock valued at $3,484,000 after acquiring an additional 3,612 shares in the last quarter. Finally, Aigen Investment Management LP raised its position in Grindr by 51.5% during the fourth quarter. Aigen Investment Management LP now owns 28,619 shares of the company's stock worth $511,000 after acquiring an additional 9,726 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.

About Grindr

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.