Nathan Richardson Sells 1,500 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $12.70, for a total value of $19,050.00. Following the completion of the sale, the director owned 15,833 shares in the company, valued at $201,079.10. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nathan Richardson also recently made the following trade(s):

• On Tuesday, November 18th, Nathan Richardson sold 1,500 shares of Grindr stock. The shares were sold at an average price of $13.55, for a total transaction of $20,325.00.
• On Friday, November 14th, Nathan Richardson sold 485 shares of Grindr stock. The shares were sold at an average price of $14.03, for a total transaction of $6,804.55.
• On Tuesday, October 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $13.50, for a total transaction of $13,500.00.
• On Monday, September 15th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.19, for a total transaction of $16,190.00.

Grindr Trading Up 0.9%

Shares of GRND traded up $0.11 on Tuesday, hitting $12.96. 970,837 shares of the stock traded hands, compared to its average volume of 1,900,511. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The stock’s 50 day moving average is $13.86 and its two-hundred day moving average is $17.64. The firm has a market capitalization of $2.39 billion, a P/E ratio of 30.59 and a beta of 0.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the company earned $0.09 EPS. Grindr’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, sell-side analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock valued at $34,430,000 after buying an additional 9,952 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after acquiring an additional 1,058,084 shares during the period. Bank of America Corp DE raised its stake in shares of Grindr by 93.5% in the 2nd quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock valued at $28,589,000 after acquiring an additional 608,554 shares during the period. Nuveen LLC acquired a new position in shares of Grindr during the 1st quarter valued at $20,049,000. Finally, Bwcp LP boosted its position in Grindr by 61.8% during the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock worth $19,629,000 after purchasing an additional 418,994 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GRND. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Grindr in a report on Monday. JMP Securities cut their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, August 11th. Citizens Jmp lowered their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Finally, Raymond James Financial dropped their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.