Grindr (NYSE:GRND) Hits New 12-Month High at $10.95

Shares of Grindr Inc. (NYSE:GRNDGet Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.95 and last traded at $10.82, with a volume of 67064 shares. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GRND. TD Cowen started coverage on Grindr in a research report on Thursday, March 28th. They issued a “buy” rating and a $12.00 price objective for the company. JMP Securities started coverage on Grindr in a research report on Tuesday. They set a “mkt outperform” rating and a $14.00 target price on the stock.

Read Our Latest Stock Report on Grindr

Grindr Stock Up 3.6 %

The company has a debt-to-equity ratio of 13.21, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day moving average is $9.06 and its 200 day moving average is $7.73.

Grindr (NYSE:GRNDGet Free Report) last posted its quarterly earnings results on Monday, March 11th. The company reported $0.04 earnings per share (EPS) for the quarter. Grindr had a negative net margin of 21.48% and a positive return on equity of 101.02%. The business had revenue of $72.09 million during the quarter.

Institutional Trading of Grindr

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Grindr by 567.8% in the second quarter. BlackRock Inc. now owns 2,179,483 shares of the company’s stock worth $12,053,000 after purchasing an additional 1,853,136 shares during the last quarter. State Street Corp increased its holdings in Grindr by 2,186.0% in the 2nd quarter. State Street Corp now owns 891,524 shares of the company’s stock worth $4,930,000 after buying an additional 852,524 shares during the period. Goldman Sachs Group Inc. raised its position in Grindr by 357.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 479,090 shares of the company’s stock worth $4,206,000 after buying an additional 374,386 shares during the last quarter. Geode Capital Management LLC lifted its stake in Grindr by 133.2% during the 2nd quarter. Geode Capital Management LLC now owns 611,119 shares of the company’s stock valued at $3,379,000 after acquiring an additional 349,012 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Grindr by 649.9% in the 2nd quarter. Northern Trust Corp now owns 332,455 shares of the company’s stock valued at $1,838,000 after acquiring an additional 288,124 shares during the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

About Grindr

(Get Free Report)

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.

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