J Michael Gearon, Jr. Sells 19,432 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director J Michael Gearon, Jr. sold 19,432 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total value of $480,942.00. Following the completion of the transaction, the director now owns 5,480,568 shares in the company, valued at approximately $135,644,058. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Grindr Stock Up 0.3%

NYSE:GRND opened at $23.34 on Friday. The company has a market cap of $4.57 billion, a PE ratio of -66.67 and a beta of 0.31. The business’s 50 day moving average is $21.59 and its two-hundred day moving average is $18.69. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, sell-side analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on GRND shares. Wall Street Zen upgraded Grindr from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group boosted their price target on Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Raymond James reiterated an “outperform” rating and issued a $26.00 price target (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Militia Capital Partners LP acquired a new position in shares of Grindr in the 1st quarter worth approximately $806,000. Rhumbline Advisers grew its position in shares of Grindr by 3.0% in the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock worth $770,000 after acquiring an additional 1,272 shares in the last quarter. Ascent Group LLC acquired a new position in shares of Grindr in the 1st quarter worth approximately $262,000. Voleon Capital Management LP grew its position in shares of Grindr by 172.8% in the 1st quarter. Voleon Capital Management LP now owns 186,000 shares of the company’s stock worth $3,329,000 after acquiring an additional 117,806 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new position in shares of Grindr in the 1st quarter worth approximately $1,167,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.