Grindr (NYSE:GRND) Insider Zachary Katz Sells 15,227 Shares of Company Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 15,227 shares of the firm’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $15.23, for a total transaction of $231,907.21. Following the completion of the transaction, the insider owned 618,000 shares of the company’s stock, valued at approximately $9,412,140. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zachary Katz also recently made the following trade(s):

• On Monday, August 3rd, Zachary Katz sold 12,979 shares of Grindr stock. The stock was sold at an average price of $17.89, for a total transaction of $232,194.31.

Grindr Trading Down 6.9%

NYSE GRND traded down $1.04 on Friday, hitting $14.06. 2,526,833 shares of the stock were exchanged, compared to its average volume of 1,871,229. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 28.13 and a beta of 0.19. The company’s 50-day moving average price is $15.37 and its two-hundred day moving average price is $14.39. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $18.50.

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

Analyst Ratings Changes

A number of equities research analysts have commented on GRND shares. Weiss Ratings restated a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating on shares of Grindr in a report on Friday, August 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 price target on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Grindr

A number of institutional investors have recently bought and sold shares of GRND. Rockefeller Capital Management L.P. purchased a new position in Grindr in the fourth quarter valued at about $45,000. Versant Capital Management Inc raised its stake in shares of Grindr by 53.8% during the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after purchasing an additional 1,338 shares in the last quarter. State of Wyoming purchased a new stake in shares of Grindr during the 2nd quarter worth about $83,000. State of Alaska Department of Revenue purchased a new stake in shares of Grindr during the 3rd quarter worth about $106,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Grindr during the 2nd quarter valued at about $159,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.