Grindr Inc. (NYSE:GRND – Get Free Report) Director George Zage III sold 150,000 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $13.87, for a total transaction of $2,080,500.00. Following the sale, the director owned 6,627,743 shares of the company’s stock, valued at approximately $91,926,795.41. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, October 16th, George Zage III sold 350,000 shares of Grindr stock. The shares were sold at an average price of $14.23, for a total value of $4,980,500.00.
- On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $3,989,485.50.
- On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The shares were sold at an average price of $14.17, for a total value of $2,943,534.10.
- On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The shares were sold at an average price of $15.41, for a total value of $2,564,224.00.
- 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 value of $5,210,832.00.
Grindr Trading Down 2.1%
Shares of GRND stock opened at $13.77 on Thursday. The business has a 50-day moving average of $15.24 and a 200 day moving average of $14.45. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. Grindr Inc. has a 1-year low of $9.73 and a 1-year high of $18.50. The stock has a market capitalization of $2.39 billion, a PE ratio of 27.53 and a beta of 0.19.
Grindr (NYSE:GRND – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%. The company had revenue of $138.14 million during the quarter, compared to analysts’ expectations of $132.50 million. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.51 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on GRND. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group reiterated a “buy” rating and set a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Grindr in a report on Tuesday, September 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.
Get Our Latest Stock Analysis on Grindr
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of GRND. BlackRock Inc. bought a new position in Grindr during the 2nd quarter valued at approximately $49,159,000. Tikvah Management LLC lifted its holdings in Grindr by 8.1% in the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock worth $21,034,000 after buying an additional 109,100 shares during the period. Dimensional Fund Advisors LP grew its position 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 worth $16,881,000 after buying an additional 610,111 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of Grindr in the 2nd quarter worth approximately $7,904,000. Finally, SPX Gestao de Recursos Ltda grew its position in shares of Grindr by 13.4% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock worth $5,511,000 after buying an additional 54,000 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.
About Grindr
Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.
The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.
Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.
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