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 $14.00 price target on the stock.

Several other equities research analysts also recently weighed in on the company. TD Cowen started coverage on Grindr in a report on Thursday, March 28th. They issued a buy rating and a $12.00 price target for the company. Raymond James started coverage on Grindr in a report on Thursday, April 4th. They issued an outperform rating and a $14.00 price target for the company.

Grindr Price Performance

GRND opened at $9.68 on Monday. The business’s 50-day moving average is $9.52 and its two-hundred day moving average is $8.18. Grindr has a 1 year low of $4.49 and a 1 year high of $11.13. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $1.69 billion, a PE ratio of -30.25 and a beta of 0.29.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $72.09 million during the quarter. Grindr had a positive return on equity of 101.02% and a negative net margin of 21.48%. Research analysts anticipate that Grindr will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alta Fox Capital Management LLC acquired a new stake in shares of Grindr during the third quarter worth about $1,162,000. Park West Asset Management LLC acquired a new stake in shares of Grindr during the fourth quarter worth about $1,652,000. Jump Financial LLC acquired a new stake in shares of Grindr during the fourth quarter worth about $617,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Grindr by 11.7% during the fourth quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock worth $170,000 after purchasing an additional 2,030 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.