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

JMP Securities reiterated their market outperform rating on shares of Grindr (NYSE:GRND) in a research report report published on Monday,Benzinga reports. They currently have a $24.00 price target on the stock.

Several other equities analysts have also issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Grindr in a report on Thursday, March 6th. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.75.

Grindr Stock Performance

NYSE:GRND opened at $19.29 on Monday. The stock has a market capitalization of $4.02 billion, a P/E ratio of -55.11 and a beta of 0.31. The company’s 50-day simple moving average is $17.77 and its 200-day simple moving average is $16.44. Grindr has a fifty-two week low of $8.95 and a fifty-two week high of $19.66.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total value of $55,026.00. Following the transaction, the insider now owns 577,549 shares in the company, valued at approximately $10,395,882. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 8,115 shares of company stock valued at $139,397 in the last ninety days. Company insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position 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 purchasing an additional 662 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after buying an additional 642 shares during the last quarter. Quarry LP grew its holdings in Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company’s stock worth $61,000 after acquiring an additional 2,316 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock valued at $83,000 after acquiring an additional 3,880 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Grindr in the fourth quarter valued at approximately $89,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.