Grindr (NYSE:GRND) PT Raised to $14.00 at TD Cowen

Grindr (NYSE:GRND) had its price target hoisted by TD Cowen from $12.00 to $14.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

GRND has been the topic of several other research reports. Raymond James increased their target price on Grindr from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Thursday. JMP Securities increased their price objective on Grindr from $14.00 to $17.00 and gave the stock a market outperform rating in a research report on Thursday.

Grindr Stock Performance

GRND stock opened at $12.24 on Thursday. The firm has a market cap of $2.15 billion, a PE ratio of -68.00 and a beta of 0.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 13.21. The business has a 50 day moving average of $9.86 and a 200-day moving average of $9.36. Grindr has a 12-month low of $4.49 and a 12-month high of $12.42.

Grindr (NYSE:GRND) last released its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $75.35 million during the quarter, compared to analyst estimates 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 prior year, the company posted ($0.19) earnings per share. As a group, sell-side analysts expect that Grindr will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO George Arison sold 2,931 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total value of $29,310.00. Following the transaction, the chief executive officer now owns 3,022,666 shares of the company’s stock, valued at $30,226,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director James Fu Bin Lu sold 1,000,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $377,083,010. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Arison sold 2,931 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $10.00, for a total value of $29,310.00. Following the transaction, the chief executive officer now directly owns 3,022,666 shares in the company, valued at $30,226,660. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,781,103 shares of company stock worth $17,183,504. Corporate insiders own 78.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GRND. Price T Rowe Associates Inc. MD grew its stake 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 valued at $120,000 after buying an additional 1,667 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Grindr by 11.7% in the fourth quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock worth $170,000 after purchasing an additional 2,030 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Grindr in the first quarter worth about $209,000. GSA Capital Partners LLP bought a new stake in shares of Grindr in the first quarter worth about $545,000. Finally, Jump Financial LLC bought a new stake in shares of Grindr in the fourth quarter worth about $617,000. 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.