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

JMP Securities reissued their market outperform rating on shares of Grindr (NYSE:GRND) in a report published on Monday, Benzinga reports. They currently have a $14.00 target price on the stock.

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

Grindr Price Performance

GRND stock opened at $9.68 on Monday. The stock has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $8.18. Grindr has a 12-month low of $4.49 and a 12-month high of $11.13. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 13.21. The company has a market cap of $1.69 billion, a PE ratio of -30.25 and a beta of 0.29.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GRND. Alta Fox Capital Management LLC purchased a new position in Grindr in the third quarter valued at about $1,162,000. New York State Common Retirement Fund boosted its holdings in Grindr by 11.7% in the fourth quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after purchasing an additional 2,030 shares during the last quarter. Jump Financial LLC purchased a new position in Grindr in the fourth quarter valued at about $617,000. Finally, Park West Asset Management LLC purchased a new position in Grindr in the fourth quarter valued at about $1,652,000. Hedge funds and other institutional investors 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.