Grindr (NYSE:GRND) Earns Buy Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of Grindr (NYSE:GRND) in a research note published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $12.00 price objective on the stock.

Grindr Trading Up 3.8 %

Shares of GRND stock opened at $10.13 on Thursday. Grindr has a 1 year low of $4.49 and a 1 year high of $10.69. The firm has a fifty day moving average price of $9.00 and a 200-day moving average price of $7.68. 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 company has a market cap of $1.77 billion, a price-to-earnings ratio of -31.66 and a beta of 0.24.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Grindr by 28.8% during the fourth quarter. Legal & General Group Plc now owns 7,327 shares of the company’s stock valued at $64,000 after acquiring an additional 1,639 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Grindr during the 4th quarter worth $89,000. Cubist Systematic Strategies LLC purchased a new position in shares of Grindr during the 1st quarter worth about $65,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Grindr during the 2nd quarter worth about $64,000. Finally, Citigroup Inc. acquired a new stake in Grindr in the second quarter valued at approximately $68,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

About Grindr

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.