JMP Securities reiterated their market outperform rating on shares of Grindr (NYSE:GRND – Free Report) in a research report released on Monday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.
A number of other research firms have also issued reports on GRND. TD Cowen began coverage on Grindr in a report on Thursday, March 28th. They set a buy rating and a $12.00 target price on the stock. Raymond James began coverage on Grindr in a report on Thursday, April 4th. They set an outperform rating and a $14.00 target price on the stock.
Check Out Our Latest Stock Report on Grindr
Grindr Stock Down 0.7 %
Grindr (NYSE:GRND – Get Free Report) last released its earnings results on Monday, March 11th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $72.09 million for the quarter. Grindr had a positive return on equity of 101.02% and a negative net margin of 21.48%. On average, equities research analysts predict that Grindr will post 0.18 EPS for the current year.
Hedge Funds Weigh In On Grindr
Institutional investors have recently bought and sold shares of the stock. Alta Fox Capital Management LLC purchased a new position in Grindr in the 3rd quarter worth about $1,162,000. Park West Asset Management LLC purchased a new position in Grindr in the 4th quarter worth about $1,652,000. Jump Financial LLC purchased a new position in Grindr in the 4th quarter worth about $617,000. Finally, New York State Common Retirement Fund increased its stake 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 worth $170,000 after purchasing an additional 2,030 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.
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.
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