Grindr (NYSE:GRND) Earns "Market Outperform" Rating from JMP Securities

Grindr (NYSE:GRND - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $14.00 price objective on the stock. JMP Securities' price target would suggest a potential upside of 44.63% from the stock's current price.

Several other equities analysts have also commented on the company. TD Cowen initiated coverage on Grindr in a research report on Thursday, March 28th. They set a "buy" rating and a $12.00 price objective for the company. Raymond James initiated coverage on Grindr in a report on Thursday, April 4th. They issued an "outperform" rating and a $14.00 price objective for the company.

Grindr Stock Down 1.0 %

Grindr stock traded down $0.10 on Monday, hitting $9.68. 244,232 shares of the stock traded hands, compared to its average volume of 438,007. 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 firm has a market cap of $1.69 billion, a P/E ratio of -30.25 and a beta of 0.29. The business's fifty day simple moving average is $9.52 and its 200 day simple moving average is $8.18. Grindr has a 1 year low of $4.49 and a 1 year high of $11.13.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The company reported $0.04 EPS 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%. As a group, sell-side analysts forecast that Grindr will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Park West Asset Management LLC purchased a new position in shares of Grindr during the 4th quarter valued at about $1,652,000. Jump Financial LLC purchased a new position in shares of Grindr during the 4th quarter valued at about $617,000. New York State Common Retirement Fund lifted 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 buying an additional 2,030 shares in the last quarter. Finally, Alta Fox Capital Management LLC purchased a new position in shares of Grindr during the 3rd quarter valued at about $1,162,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

About Grindr

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.