TD Cowen Increases Grindr (NYSE:GRND) Price Target to $14.00

Grindr (NYSE:GRND) had its price target upped by investment analysts at TD Cowen from $12.00 to $14.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 14.38% from the company’s previous close.

Several other equities analysts have also weighed in on GRND. Raymond James raised their target price on Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday. JMP Securities lifted their price objective on Grindr from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday.

Grindr Price Performance

NYSE GRND opened at $12.24 on Thursday. Grindr has a fifty-two week low of $4.49 and a fifty-two week high of $12.42. The stock’s 50-day moving average is $9.86 and its two-hundred day moving average is $9.34. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $2.15 billion, a P/E ratio of -68.00 and a beta of 0.28.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. The company had revenue of $75.35 million for the quarter, compared to analyst estimates of $72.60 million. During the same period last year, the company earned ($0.19) earnings per share.

Insider Transactions at Grindr

In other news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr 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 directly owns 37,708,301 shares in the company, valued at $377,083,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO George Arison sold 2,931 shares of Grindr stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total transaction of $29,310.00. Following the sale, the chief executive officer now directly owns 3,022,666 shares of the company’s stock, valued at $30,226,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Fu Bin Lu sold 1,000,000 shares of Grindr 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 sale, the director now directly owns 37,708,301 shares in the company, valued at $377,083,010. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,781,103 shares of company stock worth $17,183,504. Company insiders own 78.20% of the company’s stock.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently added to or reduced their stakes in the company. Alta Fox Capital Management LLC acquired a new stake in Grindr during the third quarter valued at approximately $1,162,000. New York State Common Retirement Fund boosted its holdings in Grindr by 11.7% during the fourth quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after purchasing an additional 2,030 shares in the last quarter. Jump Financial LLC acquired a new stake in Grindr during the fourth quarter valued at approximately $617,000. Park West Asset Management LLC acquired a new stake in Grindr during the fourth quarter valued at approximately $1,652,000. Finally, GSA Capital Partners LLP acquired a new stake in Grindr during the first quarter valued at approximately $545,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Company Profile

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.