Grindr (NYSE:GRND) Now Covered by TD Cowen

Analysts at TD Cowen started coverage on shares of Grindr (NYSE:GRND) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 22.95% from the stock’s current price.

Grindr Stock Performance

NYSE:GRND opened at $9.76 on Thursday. Grindr has a fifty-two week low of $4.49 and a fifty-two week high of $10.69. The stock has a market capitalization of $1.71 billion, a PE ratio of -30.50 and a beta of 0.24. The company has a fifty day moving average of $8.94 and a two-hundred day moving average of $7.60. The company has a debt-to-equity ratio of 13.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Investors Weigh In On Grindr

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc increased its position in Grindr by 28.8% during the fourth quarter. Legal & General Group Plc now owns 7,327 shares of the company’s stock worth $64,000 after purchasing an additional 1,639 shares during the last quarter. New York State Common Retirement Fund increased its position in Grindr by 11.7% during the fourth 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 during the last quarter. Rhumbline Advisers increased its position in Grindr by 6.2% during the third quarter. Rhumbline Advisers now owns 36,087 shares of the company’s stock worth $207,000 after purchasing an additional 2,098 shares during the last quarter. Vanguard Group Inc. increased its position in Grindr by 1.0% during the third quarter. Vanguard Group Inc. now owns 551,669 shares of the company’s stock worth $3,172,000 after purchasing an additional 5,460 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Grindr by 124.7% during the fourth quarter. Royal Bank of Canada now owns 12,392 shares of the company’s stock worth $109,000 after purchasing an additional 6,876 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

Grindr Inc operates social network platform for the LGBTQ community. Its platform enables gay, bisexual, transgender, and queer people to find and engage with each other, share content and experiences, and express themselves. It offers ad-supported service and a premium subscription version; and manages Blendr, a dating service application.