Citizens Jmp Begins Coverage on Grindr (NYSE:GRND)

Investment analysts at Citizens Jmp assumed coverage on shares of Grindr (NYSE:GRND - Get Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set a "mkt outperform" rating and a $27.00 price target on the stock. Citizens Jmp's price objective indicates a potential upside of 19.59% from the stock's current price.

GRND has been the subject of a number of other reports. The Goldman Sachs Group lifted their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities restated a "market outperform" rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price target (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Six equities research 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.com, Grindr currently has a consensus rating of "Buy" and a consensus target price of $24.60.

Grindr Stock Up 1.7%

NYSE:GRND traded up $0.39 during mid-day trading on Monday, hitting $22.58. The stock had a trading volume of 118,426 shares, compared to its average volume of 1,163,718. Grindr has a twelve month low of $10.26 and a twelve month high of $25.13. The stock has a 50-day simple moving average of $22.99 and a two-hundred day simple moving average of $19.50. 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 market capitalization of $4.42 billion, a PE ratio of -34.74 and a beta of 0.31.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. On average, equities research analysts anticipate that Grindr will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, insider Zachary Katz sold 14,692 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.47, for a total transaction of $344,821.24. Following the transaction, the insider now owns 624,497 shares of the company's stock, valued at $14,656,944.59. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $465,380.76. Following the completion of the transaction, the chief financial officer now owns 731,612 shares in the company, valued at $16,227,154.16. This trade represents a 2.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,610,866 shares of company stock valued at $110,193,788 over the last quarter. Company insiders own 67.70% of the company's stock.

Institutional Trading of Grindr

A number of hedge funds have recently added to or reduced their stakes in GRND. CWM LLC raised its stake in shares of Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. GAMMA Investing LLC increased its stake in Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after buying an additional 662 shares during the period. Russell Investments Group Ltd. increased its stake in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after buying an additional 642 shares during the period. Quarry LP raised its position in Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after buying an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Grindr by 511.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after acquiring an additional 3,880 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.

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.