Grindr (NYSE:GRND) Price Target Raised to $17.00

Grindr (NYSE:GRND) had its price target upped by TD Cowen from $14.00 to $17.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Grindr in a research report on Monday, July 15th.

Grindr Trading Up 1.6 %

Grindr stock traded up $0.23 during trading hours on Wednesday, hitting $15.00. 1,011,565 shares of the stock traded hands, compared to its average volume of 524,963. Grindr has a one year low of $5.71 and a one year high of $15.21. The company has a market cap of $2.64 billion, a PE ratio of -34.07 and a beta of 0.33. The firm’s 50-day moving average price is $12.60 and its two-hundred day moving average price is $11.41.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Grindr had a negative net margin of 25.67% and a negative return on equity of 234.28%. The company had revenue of $82.35 million during the quarter, compared to analyst estimates of $77.40 million. On average, sell-side analysts expect that Grindr will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, CAO Kye Chen sold 4,964 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $11.81, for a total transaction of $58,624.84. Following the completion of the sale, the chief accounting officer now directly owns 130,598 shares in the company, valued at approximately $1,542,362.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 27,115 shares of company stock worth $318,994. Company insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

Several large investors have recently added to or reduced their stakes in GRND. Quest Partners LLC increased its holdings in Grindr by 277.4% in the 3rd quarter. Quest Partners LLC now owns 48,375 shares of the company’s stock worth $577,000 after acquiring an additional 35,558 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Grindr during the 3rd quarter valued at $321,000. Aigen Investment Management LP purchased a new position in shares of Grindr during the 3rd quarter valued at $225,000. Principal Financial Group Inc. bought a new position in Grindr in the 3rd quarter worth $365,000. Finally, Bleakley Financial Group LLC increased its stake in Grindr by 9.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after buying an additional 2,371 shares in the last quarter. 7.22% of the stock is currently 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.