Grindr (NYSE:GRND) Director Sells $2,080,500.00 in Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 150,000 shares of the firm’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $13.87, for a total value of $2,080,500.00. Following the transaction, the director directly owned 6,627,743 shares of the company’s stock, valued at approximately $91,926,795.41. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, October 16th, George Zage III sold 350,000 shares of Grindr stock. The shares were sold at an average price of $14.23, for a total value of $4,980,500.00.
• On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total value of $3,989,485.50.
• 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 value of $2,943,534.10.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was sold at an average price of $15.41, for a total value 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 value of $5,210,832.00.

Grindr Trading Down 0.4%

GRND stock traded down $0.05 during trading on Tuesday, hitting $14.06. The company had a trading volume of 1,501,510 shares, compared to its average volume of 1,588,991. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr Inc. has a one year low of $9.73 and a one year high of $18.50. The business has a 50-day moving average of $15.33 and a 200-day moving average of $14.42. The stock has a market cap of $2.44 billion, a PE ratio of 28.12 and a beta of 0.19.

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

Institutional Trading of Grindr

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Grindr during the second quarter worth $49,159,000. Tikvah Management LLC increased its stake in Grindr by 8.1% in the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after purchasing an additional 109,100 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Grindr by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after purchasing an additional 610,111 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Grindr during the second quarter valued at about $7,904,000. Finally, SPX Gestao de Recursos Ltda raised its holdings in shares of Grindr by 13.4% during the first quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock valued at $5,511,000 after purchasing an additional 54,000 shares during the period. Institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Grindr Company Profile

Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.