Grindr (NYSE:GRND) Director Sells $2,943,534.10 in Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 207,730 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $14.17, for a total value of $2,943,534.10. Following the completion of the sale, the director owned 7,420,013 shares of the company’s stock, valued at approximately $105,141,584.21. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

George Raymond Zage III also recently made the following trade(s):

• On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $3,989,485.50.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The shares were sold at an average price of $15.41, for a total value of $2,564,224.00.
• On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The shares were sold at an average price of $15.62, for a total transaction of $5,210,832.00.

Grindr Price Performance

Shares of Grindr stock opened at $14.38 on Thursday. The firm has a fifty day simple moving average of $15.71 and a 200-day simple moving average of $14.28. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr Inc. has a 1-year low of $9.73 and a 1-year high of $18.50. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 28.76 and a beta of 0.19.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%.The firm had revenue of $138.14 million for the quarter, compared to the consensus estimate of $132.50 million. On average, sell-side analysts expect that Grindr Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of Grindr

A number of hedge funds have recently bought and sold shares of GRND. Versant Capital Management Inc grew its position in Grindr by 53.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after purchasing an additional 1,338 shares during the last quarter. Tikvah Management LLC increased its holdings in shares of Grindr by 8.1% during the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock worth $21,034,000 after purchasing an additional 109,100 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Grindr during the second quarter valued at about $1,975,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Grindr during the second quarter valued at about $277,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Grindr in the second quarter valued at about $159,000. 7.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James Financial restated an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research note on Tuesday, September 8th. Citigroup reissued a “market outperform” rating on shares of Grindr in a research report on Thursday, October 1st. The Goldman Sachs Group restated a “buy” rating and set a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Grindr presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

About Grindr

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.