Grindr (NYSE:GRND) Price Target Raised to $27.00 at JMP Securities

Grindr (NYSE:GRND - Free Report) had its target price upped by JMP Securities from $24.00 to $27.00 in a report published on Monday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research analysts have also recently issued reports on GRND. Citizens Jmp began coverage on shares of Grindr in a report on Monday. They issued an "outperform" rating and a $27.00 target price for the company. The Goldman Sachs Group upped 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price objective (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $24.60.

Grindr Price Performance

NYSE:GRND traded up $0.41 during trading hours on Monday, hitting $22.58. The company's stock had a trading volume of 869,983 shares, compared to its average volume of 1,181,667. Grindr has a 52-week low of $10.26 and a 52-week high of $25.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.22 and a current ratio of 4.22. The business's 50-day moving average is $23.13 and its two-hundred day moving average is $19.58. The company has a market capitalization of $4.42 billion, a PE ratio of 73.90 and a beta of 0.28.

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

Insiders Place Their Bets

In related news, Director James Fu Bin Lu sold 852,567 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $23.93, for a total transaction of $20,401,928.31. Following the sale, the director owned 26,588,867 shares of the company's stock, valued at $636,271,587.31. This trade represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Michael Gearon, Jr. sold 19,432 shares of the firm'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 sale, the director directly owned 5,480,568 shares in the company, valued at $135,644,058. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,610,866 shares of company stock valued at $110,193,788. Corporate insiders own 76.40% of the company's stock.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of GRND. CWM LLC grew its holdings in Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after purchasing an additional 1,719 shares during the period. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 662 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after acquiring an additional 642 shares in the last quarter. Quarry LP boosted its stake in shares of Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after buying an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Grindr by 511.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after acquiring an additional 3,880 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.