Grindr (NYSE:GRND) Insider Zachary Katz Sells 12,979 Shares

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 12,979 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.89, for a total value of $232,194.31. Following the completion of the transaction, the insider directly owned 690,172 shares in the company, valued at $12,347,177.08. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zachary Katz also recently made the following trade(s):

• On Wednesday, July 1st, Zachary Katz sold 12,800 shares of Grindr stock. The shares were sold at an average price of $16.28, for a total transaction of $208,384.00.
• On Monday, June 29th, Zachary Katz sold 12,799 shares of Grindr stock. The stock was sold at an average price of $14.65, for a total transaction of $187,505.35.
• On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The stock was sold at an average price of $13.29, for a total transaction of $135,185.88.

Grindr Stock Performance

Shares of NYSE GRND opened at $17.71 on Thursday. The firm has a 50 day moving average of $14.38 and a 200 day moving average of $12.97. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 442.30. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 36.89 and a beta of 0.20. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.69.

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 business had revenue of $129.94 million during 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%. On average, research analysts anticipate that Grindr Inc. will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after acquiring an additional 9,952 shares during the period. Norges Bank purchased a new position in Grindr in the 4th quarter worth approximately $27,441,000. Quinn Opportunity Partners LLC purchased a new position in Grindr in the 4th quarter worth approximately $20,565,000. Dimensional Fund Advisors LP boosted its stake in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock worth $16,881,000 after purchasing an additional 610,111 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after purchasing an additional 1,058,084 shares during the period. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GRND has been the topic of a number of recent research reports. Weiss Ratings raised Grindr from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Raymond James Financial restated an “outperform” rating and issued a $18.00 price target on shares of Grindr in a research report on Friday, May 8th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley raised Grindr from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $18.00 in a research report on Wednesday, July 1st. Finally, TD Cowen reiterated a “buy” rating on shares of Grindr in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

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.