Grindr (NYSE:GRND) Given New $17.00 Price Target at TD Cowen

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

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

Grindr Stock Up 0.6 %

Shares of GRND stock traded up $0.08 during mid-day trading on Wednesday, reaching $14.52. The stock had a trading volume of 225,502 shares, compared to its average volume of 518,034. The firm has a market cap of $2.56 billion, a PE ratio of -32.80 and a beta of 0.33. Grindr has a one year low of $5.71 and a one year high of $14.87. The firm’s 50 day simple moving average is $12.49 and its 200 day simple moving average is $11.35.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $82.35 million for the quarter, compared to the consensus estimate of $77.40 million. Sell-side analysts forecast that Grindr will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grindr news, CAO Kye Chen sold 16,187 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $11.68, for a total transaction of $189,064.16. Following the sale, the chief accounting officer now directly owns 138,604 shares of the company’s stock, valued at approximately $1,618,894.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 27,115 shares of company stock worth $318,994 in the last quarter. 76.40% of the stock is owned by corporate insiders.

Institutional Trading of Grindr

Several large investors have recently made changes to their positions in GRND. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 1,667 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Grindr by 9.5% during the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after purchasing an additional 2,050 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Grindr in the third quarter valued at approximately $27,000. Bleakley Financial Group LLC raised its position 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 purchasing an additional 2,371 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Grindr by 10.5% during the 3rd quarter. SG Americas Securities LLC now owns 64,816 shares of the company’s stock worth $773,000 after buying an additional 6,168 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

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.