JMP Securities Reiterates "Market Outperform" Rating for Grindr (NYSE:GRND)

Grindr (NYSE:GRND - Get Free Report)'s stock had its "market outperform" rating reaffirmed by analysts at JMP Securities in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $21.00 target price on the stock. JMP Securities' price objective indicates a potential upside of 24.11% from the company's previous close.

GRND has been the topic of several other reports. The Goldman Sachs Group began coverage on Grindr in a research note on Monday. They issued a "buy" rating and a $20.00 price objective on the stock. TD Cowen increased their target price on shares of Grindr from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Raymond James lifted their price target on shares of Grindr from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, November 8th.

Grindr Trading Up 7.5 %

NYSE GRND traded up $1.18 on Monday, hitting $16.92. 1,746,189 shares of the company's stock were exchanged, compared to its average volume of 543,377. Grindr has a 52 week low of $7.83 and a 52 week high of $17.33. The stock has a 50-day moving average of $14.27 and a 200-day moving average of $12.41. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -48.34 and a beta of 0.37.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the sale, the insider now directly owns 586,722 shares of the company's stock, valued at $8,390,124.60. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Fu Bin Lu sold 750,000 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the transaction, the director now directly owns 31,540,655 shares of the company's stock, valued at $477,525,516.70. The trade was a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,405,870 shares of company stock valued at $36,366,731 in the last 90 days. 76.40% of the stock is owned by corporate insiders.

Institutional Trading of Grindr

Several institutional investors have recently modified their holdings of GRND. The Manufacturers Life Insurance Company increased its position in Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock valued at $163,000 after purchasing an additional 1,166 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Grindr by 16.5% during the first 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 during the period. Hsbc Holdings PLC increased its position in shares of Grindr by 9.5% during the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company's stock worth $286,000 after buying an additional 2,050 shares during the period. nVerses Capital LLC bought a new position in Grindr during the third quarter worth $27,000. Finally, Bleakley Financial Group LLC lifted its holdings in Grindr by 9.6% in the third quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company's stock valued at $324,000 after buying an additional 2,371 shares during the period. 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.