Grindr (NYSE:GRND) PT Raised to $15.00 at Raymond James

Grindr (NYSE:GRND) had its price objective hoisted by equities researchers at Raymond James from $14.00 to $15.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective suggests a potential upside of 22.55% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Cowen began coverage on Grindr in a research note on Thursday, March 28th. They issued a “buy” rating and a $12.00 target price on the stock. JMP Securities lifted their target price on Grindr from $14.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday.

Grindr Stock Performance

GRND stock opened at $12.24 on Thursday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average price of $9.86 and a 200 day moving average price of $9.34. The company has a market capitalization of $2.15 billion, a P/E 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.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $75.35 million during the quarter, compared to the consensus estimate of $72.60 million. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. During the same period in the previous year, the company posted ($0.19) earnings per share.

Insider Transactions at Grindr

In other news, CEO George Arison sold 83,639 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $10.15, for a total transaction of $848,935.85. Following the sale, the chief executive officer now owns 3,029,027 shares in the company, valued at $30,744,624.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO George Arison sold 83,639 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $10.15, for a total transaction of $848,935.85. Following the sale, the chief executive officer now owns 3,029,027 shares in the company, valued at $30,744,624.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 1,000,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. Following the sale, the director now owns 37,708,301 shares in the company, valued at approximately $377,083,010. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,781,103 shares of company stock worth $17,183,504. Insiders own 78.20% of the company’s stock.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Grindr by 16.5% during the first 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 during the period. Vanguard Group Inc. lifted its holdings in shares of Grindr by 5.7% during the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after purchasing an additional 30,574 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Grindr during the first quarter worth about $209,000. GSA Capital Partners LLP acquired a new stake in shares of Grindr during the first quarter worth about $545,000. Finally, Park West Asset Management LLC acquired a new stake in shares of Grindr during the fourth quarter worth about $1,652,000. Institutional investors and hedge funds 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.