TD Cowen Increases Grindr (NYSE:GRND) Price Target to $17.00

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

Separately, JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Grindr in a research note on Monday, July 15th.

Grindr Price Performance

NYSE:GRND opened at $15.00 on Wednesday. Grindr has a 12-month low of $5.71 and a 12-month high of $15.21. The firm has a 50-day moving average price of $12.60 and a 200 day moving average price of $11.42.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $82.35 million for the quarter, compared to analyst estimates of $77.40 million. Grindr had a negative return on equity of 155.16% and a negative net margin of 16.27%. As a group, equities analysts anticipate that Grindr will post 0.25 EPS for the current year.

Insider Transactions at Grindr

In other news, CAO Kye Chen sold 16,187 shares of Grindr stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $11.68, for a total value of $189,064.16. Following the completion of the transaction, the chief accounting officer now owns 138,604 shares in the company, valued at approximately $1,618,894.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 27,115 shares of company stock valued at $318,994. Corporate insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in Grindr during the 1st quarter worth about $545,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Grindr in the first quarter valued at approximately $209,000. Vanguard Group Inc. raised its position in Grindr by 5.7% in the 1st 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after buying an additional 1,667 shares in the last quarter. Finally, Simplicity Wealth LLC acquired a new position in Grindr during the 2nd quarter worth $303,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

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.