Grindr (NYSE:GRND) Insider Zachary Katz Sells 10,172 Shares

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 10,172 shares of Grindr stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $13.29, for a total value of $135,185.88. Following the completion of the sale, the insider owned 738,922 shares in the company, valued at approximately $9,820,273.38. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grindr Trading Down 1.2%

GRND stock traded down $0.16 during trading on Monday, reaching $13.19. The company had a trading volume of 1,448,572 shares, compared to its average volume of 1,536,326. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $22.99. The company has a market cap of $2.34 billion, a P/E ratio of 27.48 and a beta of 0.24. The business has a 50 day moving average of $12.90 and a 200 day moving average of $12.47. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $119.42 million. Grindr had a net margin of 19.85% and a return on equity of 123.31%. As a group, sell-side analysts forecast that Grindr Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GRND. Morgan Stanley initiated coverage on Grindr in a research note on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and set a $18.00 price objective on shares of Grindr in a research note on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Grindr in a research note on Monday, June 1st. The Goldman Sachs Group reduced their price target on Grindr from $20.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings raised Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Grindr currently has an average rating of “Moderate Buy” and an average price target of $18.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Grindr by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after buying an additional 1,086 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Grindr by 69.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,983 shares of the company’s stock worth $40,000 after acquiring an additional 1,227 shares during the period. Vident Advisory LLC grew its holdings in shares of Grindr by 2.6% in the fourth quarter. Vident Advisory LLC now owns 50,616 shares of the company’s stock worth $685,000 after acquiring an additional 1,271 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 1,385 shares during the last quarter. Institutional investors 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.