Grindr’s (GRND) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Grindr (NYSE:GRND) in a research report released on Monday, Benzinga reports. JMP Securities currently has a $14.00 price target on the stock.

A number of other brokerages have also recently commented on GRND. Raymond James assumed coverage on shares of Grindr in a report on Thursday, April 4th. They issued an outperform rating and a $14.00 target price on the stock. TD Cowen assumed coverage on shares of Grindr in a report on Thursday, March 28th. They issued a buy rating and a $12.00 target price on the stock.

Grindr Stock Down 1.6 %

GRND stock opened at $9.64 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 13.21. Grindr has a twelve month low of $4.49 and a twelve month high of $11.13. The company’s 50 day moving average is $9.58 and its two-hundred day moving average is $8.21. The stock has a market cap of $1.69 billion, a P/E ratio of -30.11 and a beta of 0.29.

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

Hedge Funds Weigh In On Grindr

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund grew its position in Grindr by 11.7% in the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after buying an additional 2,030 shares during the last quarter. Jump Financial LLC purchased a new position in Grindr in the 4th quarter valued at $617,000. Park West Asset Management LLC purchased a new position in Grindr in the 4th quarter valued at $1,652,000. Finally, Alta Fox Capital Management LLC purchased a new position in Grindr in the 3rd quarter valued at $1,162,000. 7.22% of the stock is currently 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.