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

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $13.66, for a total value of $20,490.00. Following the completion of the transaction, the director directly owned 14,333 shares in the company, valued at approximately $195,788.78. This represents a 9.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 1st, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $12.70, for a total transaction of $19,050.00.
• 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 stock was 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.

Grindr Price Performance

Shares of GRND traded down $0.10 during mid-day trading on Tuesday, hitting $13.17. 1,341,418 shares of the company traded hands, compared to its average volume of 1,292,738. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The business has a 50-day moving average of $13.64 and a 200 day moving average of $15.87. Grindr Inc. has a one year low of $11.73 and a one year high of $25.13. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -35.60 and a beta of 0.23.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, equities analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GRND shares. Citizens Jmp cut their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Institutional Trading of Grindr

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Grindr during the second quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Grindr during the third quarter worth $26,000. CWM LLC lifted its position in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after acquiring an additional 552 shares in the last quarter. Finally, Huntington National Bank bought a new stake in Grindr in the 2nd quarter valued at $64,000. 7.22% of the stock is owned by institutional investors.

Grindr Company Profile

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.