Grindr (NYSE:GRND) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Grindr (NYSE:GRND - Free Report) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $24.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Citigroup reissued an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James reiterated an "outperform" rating and issued a $22.00 price target on shares of Grindr in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.75.

Grindr Stock Performance

Shares of NYSE GRND traded up $0.23 during trading hours on Monday, hitting $21.06. The company's stock had a trading volume of 1,149,616 shares, compared to its average volume of 958,901. Grindr has a 12 month low of $8.95 and a 12 month high of $21.33. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -60.17 and a beta of 0.31. The business has a 50-day simple moving average of $17.95 and a 200-day simple moving average of $16.61.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,057 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total transaction of $55,026.00. Following the sale, the insider now owns 577,549 shares in the company, valued at approximately $10,395,882. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 8,115 shares of company stock worth $139,397. Company insiders own 76.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRND. Allspring Global Investments Holdings LLC grew its holdings in Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company's stock worth $1,808,000 after purchasing an additional 5,265 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Grindr during the 1st quarter valued at approximately $197,000. GAMMA Investing LLC raised its stake in Grindr by 45.5% during the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after buying an additional 662 shares during the last quarter. Rhumbline Advisers boosted its holdings in Grindr by 3.0% in the first quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock worth $770,000 after acquiring an additional 1,272 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Grindr by 1,277.8% in the fourth quarter. California State Teachers Retirement System now owns 24,511 shares of the company's stock worth $437,000 after acquiring an additional 22,732 shares during 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.