Grindr (NYSE:GRND) Stock Price Expected to Rise, Raymond James Analyst Says

Grindr (NYSE:GRND) had its target price raised by Raymond James from $16.00 to $19.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

GRND has been the subject of several other research reports. TD Cowen boosted their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Grindr in a research report on Monday, July 15th.

Grindr Trading Up 0.7 %

GRND opened at $15.10 on Friday. The company has a market cap of $2.66 billion, a P/E ratio of -43.14 and a beta of 0.33. The business’s 50-day moving average price is $12.66 and its 200-day moving average price is $11.48. Grindr has a 12 month low of $5.73 and a 12 month high of $15.21.

Insiders Place Their Bets

In related news, CAO Kye Chen sold 4,964 shares of Grindr stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $11.81, for a total transaction of $58,624.84. Following the sale, the chief accounting officer now directly owns 130,598 shares in the company, valued at $1,542,362.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 27,115 shares of company stock worth $318,994. 76.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Grindr during the third quarter valued at approximately $27,000. Price T Rowe Associates Inc. MD grew its position in Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Grindr during the 2nd quarter valued at approximately $136,000. Quest Partners LLC increased its position in Grindr by 9,055.0% during the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after acquiring an additional 12,677 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Grindr in the second quarter worth about $189,000. 7.22% of the stock is currently owned by 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.