George Raymond Zage III Sells 166,400 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 166,400 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $15.41, for a total transaction of $2,564,224.00. Following the sale, the director directly owned 7,627,743 shares in the company, valued at approximately $117,543,519.63. This represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 Stock Performance

Shares of NYSE GRND traded down $0.05 during midday trading on Friday, reaching $15.40. The company had a trading volume of 2,329,044 shares, compared to its average volume of 1,555,243. The business’s 50-day simple moving average is $15.85 and its 200 day simple moving average is $13.98. The stock has a market cap of $2.68 billion, a P/E ratio of 30.81 and a beta of 0.19. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $18.50. 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 (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. On average, analysts forecast that Grindr Inc. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GRND shares. Morgan Stanley reissued an “overweight” rating on shares of Grindr in a research note on Tuesday, September 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $19.00 target price on shares of Grindr in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Grindr currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently modified their holdings of the company. Emmett Investment Management LP purchased a new stake in shares of Grindr in the 1st quarter valued at $3,702,000. Canada Pension Plan Investment Board purchased a new position in Grindr during the 2nd quarter valued at about $1,631,000. BlackRock Inc. purchased a new position in Grindr during the 2nd quarter valued at about $49,159,000. Dimensional Fund Advisors LP grew its position in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in Grindr by 194.0% during the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock worth $1,427,000 after purchasing an additional 77,867 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.

Grindr Company Profile

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.