Grindr (NYSE:GRND – Free Report) had its price target boosted by TD Cowen from $12.00 to $14.00 in a research note released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.
GRND has been the subject of several other research reports. JMP Securities raised their price target on Grindr from $14.00 to $17.00 and gave the stock a market outperform rating in a research report on Thursday. Raymond James lifted their price objective on Grindr from $14.00 to $15.00 and gave the company an outperform rating in a research report on Thursday.
View Our Latest Research Report on GRND
Grindr Stock Performance
Grindr (NYSE:GRND – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company 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 quarter last year, the business posted ($0.19) earnings per share. On average, analysts anticipate that Grindr will post 0.21 EPS for the current fiscal year.
Insider Buying and Selling at Grindr
In other Grindr news, 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 transaction of $10,000,000.00. Following the transaction, the director now owns 37,708,301 shares in the company, valued at $377,083,010. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, 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 transaction, the director now owns 37,708,301 shares in the company, valued at $377,083,010. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Arison sold 2,931 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total value of $29,310.00. Following the completion of the transaction, the chief executive officer now owns 3,022,666 shares in the company, valued at approximately $30,226,660. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,781,103 shares of company stock valued at $17,183,504. Company insiders own 78.20% of the company’s stock.
Institutional Trading of Grindr
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew 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 valued at $5,778,000 after purchasing an additional 30,574 shares during the last quarter. Alta Fox Capital Management LLC bought a new position in shares of Grindr during the third quarter valued at approximately $1,162,000. Park West Asset Management LLC bought a new position in shares of Grindr during the fourth quarter valued at approximately $1,652,000. Jump Financial LLC bought a new position in shares of Grindr during the fourth quarter valued at approximately $617,000. Finally, GSA Capital Partners LLP bought a new position in shares of Grindr during the first quarter valued at approximately $545,000. 7.22% of the stock is owned by institutional investors.
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.
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