Insider Selling: Grindr (NYSE:GRND) Insider Sells 29,383 Shares of Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 29,383 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $12.52, for a total value of $367,875.16. Following the transaction, the insider owned 461,137 shares of the company’s stock, valued at approximately $5,773,435.24. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zachary Katz also recently made the following trade(s):

• On Thursday, November 13th, Zachary Katz sold 13,781 shares of Grindr stock. The shares were sold at an average price of $14.39, for a total transaction of $198,308.59.
• On Monday, November 3rd, Zachary Katz sold 15,601 shares of Grindr stock. The stock was sold at an average price of $13.73, for a total transaction of $214,201.73.
• On Monday, October 13th, Zachary Katz sold 7,645 shares of Grindr stock. The stock was sold at an average price of $12.83, for a total value of $98,085.35.
• On Monday, September 15th, Zachary Katz sold 7,644 shares of Grindr stock. The stock was sold at an average price of $15.64, for a total transaction of $119,552.16.

Grindr Stock Performance

Shares of Grindr stock traded down $0.13 during trading on Friday, reaching $12.82. The company’s stock had a trading volume of 960,797 shares, compared to its average volume of 2,013,576. Grindr Inc. has a one year low of $11.73 and a one year high of $25.13. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -34.63 and a beta of 0.22. The business’s fifty day moving average price is $13.99 and its 200-day moving average price is $17.88.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRND. Caitong International Asset Management Co. Ltd purchased a new position in shares of Grindr in the 3rd quarter worth about $26,000. CWM LLC raised its stake in shares of Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after acquiring an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new stake in Grindr in the second quarter valued at $39,000. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Grindr by 190.7% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after buying an additional 2,488 shares during the period. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GRND shares. JMP Securities dropped their target price 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. Citizens Jmp decreased their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Raymond James Financial lowered 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. Finally, Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company 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.