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

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $13.55, for a total transaction of $20,325.00. Following the transaction, the director owned 17,333 shares in the company, valued at approximately $234,862.15. The trade was a 7.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 14th, Nathan Richardson sold 485 shares of Grindr stock. The shares were sold at an average price of $14.03, for a total transaction of $6,804.55.
• On Tuesday, October 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $13.50, for a total value of $13,500.00.
• On Monday, September 15th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.19, for a total value of $16,190.00.

Grindr Price Performance

Shares of GRND traded up $0.04 during trading hours on Friday, hitting $13.77. 222,121 shares of the company were exchanged, compared to its average volume of 1,998,467. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -37.22 and a beta of 0.22. The firm’s fifty day moving average is $14.27 and its 200 day moving average is $18.26.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. Grindr’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Grindr has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

Several hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. increased its holdings in Grindr by 442.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock worth $14,149,000 after purchasing an additional 1,217,017 shares in the last quarter. Nuveen LLC acquired a new position in shares of Grindr in the first quarter valued at approximately $20,049,000. Jacobs Levy Equity Management Inc. raised its holdings in Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after buying an additional 1,058,084 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Grindr during the 1st quarter worth approximately $14,320,000. Finally, Norges Bank acquired a new stake in Grindr during the 2nd quarter worth approximately $16,618,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Raymond James Financial reduced their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. JMP Securities dropped their price objective on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Citizens Jmp lowered 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 research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.50.

About Grindr

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.