Grindr (NYSE:GRND) Director Sells $3,989,485.50 in Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 292,270 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total transaction of $3,989,485.50. Following the completion of the transaction, the director directly owned 7,127,743 shares in the company, valued at $97,293,691.95. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

George Raymond Zage III also recently made the following trade(s):

• On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The shares were sold at an average price of $14.17, for a total transaction of $2,943,534.10.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The shares were sold at an average price of $15.41, for a total transaction of $2,564,224.00.
• On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The stock was sold at an average price of $15.62, for a total transaction of $5,210,832.00.

Grindr Stock Up 3.2%

Shares of GRND stock opened at $14.38 on Thursday. The company’s fifty day simple moving average is $15.71 and its two-hundred day simple moving average is $14.28. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $18.50. The stock has a market cap of $2.50 billion, a P/E ratio of 28.76 and a beta of 0.19. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $138.14 million during the quarter, compared to the consensus estimate of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. Analysts predict that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Grindr by 53.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after acquiring an additional 1,338 shares during the last quarter. Tikvah Management LLC boosted its stake in shares of Grindr by 8.1% during the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock worth $21,034,000 after purchasing an additional 109,100 shares during the period. WINTON GROUP Ltd bought a new position in Grindr during the 2nd quarter valued at about $1,975,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Grindr during the 2nd quarter valued at about $277,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Grindr in the 2nd quarter worth about $159,000. Institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley reissued an “overweight” rating on shares of Grindr in a report on Tuesday, September 8th. Weiss Ratings restated a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Grindr in a research note on Thursday, October 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.00.

About Grindr

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.