Grindr (NYSE:GRND) Director Sells 333,600 Shares

Grindr Inc. (NYSE:GRND) Director George Zage III sold 333,600 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $15.62, for a total value of $5,210,832.00. Following the completion of the transaction, the director directly owned 7,794,143 shares in the company, valued at approximately $121,744,513.66. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was sold at an average price of $15.41, for a total value of $2,564,224.00.

Grindr Trading Down 0.3%

Shares of Grindr stock traded down $0.05 during trading on Friday, reaching $15.40. 2,329,044 shares of the company were exchanged, compared to its average volume of 1,555,243. The business has a 50-day moving average price of $15.85 and a 200-day moving average price of $13.98. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 30.81 and a beta of 0.19. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $18.50.

Grindr (NYSE:GRND) last released its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The company had revenue of $138.14 million during the quarter, compared to analyst estimates of $132.50 million. Grindr had a net margin of 18.75% and a return on equity of 357.13%. Sell-side analysts anticipate that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Emmett Investment Management LP acquired a new stake in shares of Grindr during the first quarter worth $3,702,000. Canada Pension Plan Investment Board bought a new position in Grindr during the 2nd quarter worth about $1,631,000. BlackRock Inc. acquired a new stake in shares of Grindr in the 2nd quarter valued at about $49,159,000. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 610,111 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of Grindr by 194.0% in the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock valued at $1,427,000 after purchasing an additional 77,867 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.