Insider Selling: Grindr Inc. (NYSE:GRND) CFO Sells 43,565 Shares of Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 43,565 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $16.89, for a total value of $735,812.85. Following the transaction, the chief financial officer directly owned 688,047 shares in the company, valued at approximately $11,621,113.83. This represents a 5.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vandana Mehta-Krantz also recently made the following trade(s):

• On Monday, June 23rd, Vandana Mehta-Krantz sold 20,982 shares of Grindr stock. The stock was sold at an average price of $22.18, for a total value of $465,380.76.
• On Monday, June 16th, Vandana Mehta-Krantz sold 56,611 shares of Grindr stock. The stock was sold at an average price of $23.47, for a total value of $1,328,660.17.

Grindr Price Performance

GRND stock opened at $16.55 on Friday. The firm has a 50 day moving average of $20.44 and a 200-day moving average of $19.98. Grindr Inc. has a 12-month low of $11.39 and a 12-month high of $25.13. The company has a current ratio of 2.48, a quick ratio of 4.22 and a debt-to-equity ratio of 1.43. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -37.61 and a beta of 0.25.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%. The company had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of GRND. Wells Fargo & Company MN grew its stake in Grindr by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 11,472 shares of the company’s stock worth $205,000 after acquiring an additional 3,911 shares during the period. Russell Investments Group Ltd. grew its stake in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after acquiring an additional 642 shares during the period. Legal & General Group Plc grew its stake in Grindr by 721.8% in the 4th quarter. Legal & General Group Plc now owns 22,673 shares of the company’s stock worth $404,000 after acquiring an additional 19,914 shares during the period. Barclays PLC grew its stake in Grindr by 30.4% in the 4th quarter. Barclays PLC now owns 94,647 shares of the company’s stock worth $1,689,000 after acquiring an additional 22,067 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Grindr during the 4th quarter valued at $296,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GRND shares. Wall Street Zen lowered Grindr from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Raymond James Financial reduced their price objective on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group raised their price objective on shares of Grindr from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Citizens Jmp started coverage on shares of Grindr in a research report on Monday, June 30th. They issued an “outperform” rating and a $27.00 price objective for the company. Finally, JMP Securities reduced their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Grindr presently has a consensus rating of “Buy” and an average target price of $22.60.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.