Grindr (NYSE:GRND) Shares Gap Up to $9.76

Shares of Grindr Inc. (NYSE:GRND) gapped up before the market opened on Thursday . The stock had previously closed at $9.76, but opened at $9.98. Grindr shares last traded at $9.90, with a volume of 39,872 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Cowen began coverage on shares of Grindr in a report on Thursday. They issued a “buy” rating and a $12.00 price objective for the company.

Grindr Stock Performance

The firm has a market cap of $1.76 billion, a PE ratio of -30.50 and a beta of 0.24. 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’s 50 day simple moving average is $8.94 and its 200 day simple moving average is $7.60.

Institutional Investors Weigh In On Grindr

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Grindr in the fourth quarter worth about $89,000. Legal & General Group Plc raised its stake 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 period. Barclays PLC raised its stake in Grindr by 442.1% during the fourth quarter. Barclays PLC now owns 63,173 shares of the company’s stock worth $555,000 after purchasing an additional 51,520 shares during the period. Park West Asset Management LLC purchased a new position in Grindr during the fourth quarter worth about $1,652,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Grindr by 12.6% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 65,917 shares of the company’s stock valued at $579,000 after acquiring an additional 7,355 shares during the period. Hedge funds and other institutional investors 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.