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

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of Grindr stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $11.18, for a total value of $16,770.00. Following the sale, the director directly owned 12,833 shares of the company’s stock, valued at $143,472.94. This trade represents a 10.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 2nd, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $13.66, for a total transaction of $20,490.00.
• On Monday, December 1st, Nathan Richardson sold 1,500 shares of Grindr stock. The shares were 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 value 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 value of $6,804.55.

Grindr Stock Down 3.6%

Grindr stock opened at $9.93 on Friday. The business’s 50-day moving average price is $12.80 and its 200 day moving average price is $14.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -26.82 and a beta of 0.22. Grindr Inc. has a 52 week low of $9.87 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the previous year, the company posted $0.09 earnings per share. Grindr’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Grindr during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Grindr by 1,473.4% in the 2nd 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 period. Raymond James Financial Inc. purchased a new stake in Grindr in the 2nd quarter valued at $39,000. CWM LLC increased its stake in Grindr by 713.8% in the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after purchasing an additional 2,584 shares during the period. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Grindr by 190.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after buying an additional 2,488 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.