Grindr (NYSE:GRND) Director Sells $18,255.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $12.17, for a total transaction of $18,255.00. Following the completion of the sale, the director directly owned 9,833 shares of the company’s stock, valued at $119,667.61. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 2nd, Nathan Richardson sold 1,500 shares of Grindr stock. The shares were sold at an average price of $11.18, for a total transaction of $16,770.00.

Grindr Stock Up 0.2%

Grindr stock traded up $0.02 during trading hours on Friday, hitting $12.17. The company had a trading volume of 997,694 shares, compared to its average volume of 1,394,510. The firm has a market capitalization of $2.25 billion, a P/E ratio of 28.31 and a beta of 0.21. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.96 and a quick ratio of 1.96. The firm’s fifty day moving average is $11.49 and its 200-day moving average is $12.95. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $25.13.

Analysts Set New Price Targets

Several analysts recently issued reports on GRND shares. The Goldman Sachs Group cut their price objective on Grindr from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Morgan Stanley initiated coverage on Grindr in a research note on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 target price on the stock. TD Cowen dropped their target price on Grindr from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised Grindr from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Grindr in the third quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grindr in the second quarter worth about $39,000. CWM LLC lifted its position in shares of Grindr by 713.8% in the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock worth $40,000 after buying an additional 2,584 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Grindr during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

About Grindr

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.