Grindr (NYSE:GRND) Stock Price Expected to Rise, JMP Securities Analyst Says

Grindr (NYSE:GRND - Get Free Report) had its price objective increased by equities research analysts at JMP Securities from $24.00 to $27.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price objective would suggest a potential upside of 19.71% from the stock's current price.

A number of other brokerages also recently issued reports on GRND. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. Citizens Jmp assumed coverage on shares of Grindr in a report on Monday. They issued an "outperform" rating and a $27.00 price target on the stock. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. 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 research note on Monday, May 12th. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $24.60.

Grindr Price Performance

Shares of NYSE:GRND opened at $22.56 on Monday. The company has a market capitalization of $4.42 billion, a P/E ratio of -35.02 and a beta of 0.31. The company's 50-day moving average is $22.99 and its 200 day moving average is $19.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.22 and a current ratio of 4.22. Grindr has a fifty-two week low of $10.26 and a fifty-two week high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results 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 forecast that Grindr will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Grindr

In other news, CFO Vandana Mehta-Krantz sold 20,982 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $22.18, for a total transaction of $465,380.76. Following the completion of the transaction, the chief financial officer now directly owns 731,612 shares in the company, valued at $16,227,154.16. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total transaction of $480,942.00. Following the completion of the transaction, the director now owns 5,480,568 shares in the company, valued at approximately $135,644,058. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,610,866 shares of company stock valued at $110,193,788 in the last 90 days. Insiders own 67.70% of the company's stock.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Grindr by 838.5% in the 1st 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 period. GAMMA Investing LLC grew its position in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after acquiring an additional 662 shares during the period. Russell Investments Group Ltd. raised its holdings in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the period. Quarry LP lifted its position in Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after purchasing an additional 3,880 shares during the period. 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.

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