Grindr Inc. (NYSE:GRND – Get Free Report) Director George Zage III sold 350,000 shares of Grindr stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $14.23, for a total transaction of $4,980,500.00. Following the transaction, the director directly owned 6,777,743 shares in the company, valued at $96,447,282.89. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Monday, October 19th, George Zage III sold 150,000 shares of Grindr stock. The stock was sold at an average price of $13.87, for a total transaction of $2,080,500.00.
- On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total transaction of $3,989,485.50.
- On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The stock was sold at an average price of $14.17, for a total transaction of $2,943,534.10.
- 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 transaction 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 transaction of $5,210,832.00.
Grindr Stock Performance
NYSE GRND opened at $13.77 on Thursday. The company has a 50-day simple moving average of $15.24 and a two-hundred day simple moving average of $14.45. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 27.53 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 (NYSE:GRND – Get Free Report) last released 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). 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. On average, equities analysts forecast that Grindr Inc. will post 0.51 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRND. State of Alaska Department of Revenue bought a new position in Grindr in the third quarter valued at about $106,000. Versant Capital Management Inc lifted its stake in shares of Grindr by 53.8% during the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock valued at $59,000 after buying an additional 1,338 shares in the last quarter. Tikvah Management LLC boosted 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. WINTON GROUP Ltd bought a new position in Grindr in the 2nd quarter worth $1,975,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Grindr in the 2nd quarter worth $277,000. Institutional investors own 7.22% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a report on Tuesday, September 8th. Weiss Ratings restated 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 report on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $19.00 price objective on shares of Grindr in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.
Read Our Latest Analysis on GRND
Grindr Company Profile
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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