Grindr (NYSE:GRND) Stock Rating Reaffirmed by JMP Securities

Grindr (NYSE:GRND)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Monday, Benzinga reports. They currently have a $14.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 43.00% from the company’s previous close.

A number of other brokerages also recently weighed in on GRND. Raymond James started coverage on shares of Grindr in a research note on Thursday, April 4th. They issued an “outperform” rating and a $14.00 target price for the company. TD Cowen assumed coverage on Grindr in a report on Thursday, March 28th. They set a “buy” rating and a $12.00 price objective on the stock.

Grindr Trading Up 1.1 %

Shares of GRND opened at $9.79 on Monday. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -30.59 and a beta of 0.29. The stock has a fifty day moving average price of $9.55 and a two-hundred day moving average price of $8.20. Grindr has a 52-week low of $4.49 and a 52-week high of $11.13.

Grindr (NYSE:GRND) last announced its earnings results on Monday, March 11th. The company reported $0.04 earnings per share for the quarter. The company 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%. Analysts predict that Grindr will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Grindr

Several large investors have recently bought and sold shares of GRND. New York State Common Retirement Fund raised its position in shares of Grindr by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after acquiring an additional 2,030 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Grindr during the fourth quarter worth $617,000. Alta Fox Capital Management LLC bought a new stake in Grindr in the third quarter valued at about $1,162,000. Finally, Park West Asset Management LLC acquired a new position in Grindr in the fourth quarter valued at about $1,652,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

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.