Grindr Inc. (NYSE:GRND – Get Free Report) shares saw strong trading volume on Thursday after Raymond James raised their price target on the stock from $14.00 to $15.00. Raymond James currently has an outperform rating on the stock. 196,312 shares changed hands during trading, a decline of 59% from the previous session’s volume of 476,785 shares.The stock last traded at $12.02 and had previously closed at $11.82.
A number of other research analysts have also commented on GRND. JMP Securities lifted their price objective on shares of Grindr from $14.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday. TD Cowen assumed coverage on shares of Grindr in a research note on Thursday, March 28th. They issued a “buy” rating and a $12.00 price objective on the stock.
Insider Transactions at Grindr
Institutional Trading of Grindr
Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after purchasing an additional 1,667 shares in the last quarter. New York State Common Retirement Fund lifted its holdings 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 valued at $170,000 after purchasing an additional 2,030 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Grindr in the first quarter valued at about $209,000. GSA Capital Partners LLP purchased a new stake in shares of Grindr in the first quarter valued at about $545,000. Finally, Jump Financial LLC purchased a new stake in shares of Grindr in the fourth quarter valued at about $617,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.
Grindr Trading Up 1.7 %
The business’s 50-day moving average price is $9.77 and its two-hundred day moving average price is $9.29. 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 $2.11 billion, a price-to-earnings ratio of -65.64 and a beta of 0.28.
Grindr (NYSE:GRND – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $75.35 million during the quarter, compared to analyst estimates of $72.60 million. Grindr had a negative net margin of 11.56% and a positive return on equity of 3,761.31%. During the same quarter in the previous year, the business posted ($0.19) earnings per share.
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.
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