Grindr (NYSE:GRND) Director Purchases $1,011,000.00 in Stock

Grindr Inc. (NYSE:GRND) Director George Raymond Zage III acquired 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were bought at an average price of $13.48 per share, with a total value of $1,011,000.00. Following the transaction, the director owned 1,385,507 shares in the company, valued at $18,676,634.36. This represents a 5.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

George Raymond Zage III also recently made the following trade(s):

• On Thursday, December 4th, George Raymond Zage III bought 80,000 shares of Grindr stock. The stock was purchased at an average price of $13.50 per share, for a total transaction of $1,080,000.00.
• On Tuesday, December 2nd, George Raymond Zage III purchased 100,000 shares of Grindr stock. The shares were purchased at an average cost of $12.95 per share, for a total transaction of $1,295,000.00.
• On Monday, December 1st, George Raymond Zage III purchased 150,000 shares of Grindr stock. The shares were purchased at an average price of $12.91 per share, with a total value of $1,936,500.00.
• On Friday, November 28th, George Raymond Zage III acquired 150,000 shares of Grindr stock. The stock was purchased at an average cost of $12.88 per share, with a total value of $1,932,000.00.
• On Thursday, October 9th, George Raymond Zage III bought 1,000,000 shares of Grindr stock. The shares were purchased at an average price of $13.15 per share, for a total transaction of $13,150,000.00.

Grindr Trading Down 1.1%

NYSE GRND traded down $0.15 during mid-day trading on Friday, reaching $13.48. 1,289,548 shares of the stock were exchanged, compared to its average volume of 1,999,905. The stock has a market capitalization of $2.49 billion, a PE ratio of -36.43 and a beta of 0.23. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a 1-year low of $11.73 and a 1-year high of $25.13. The business’s fifty day simple moving average is $13.71 and its 200 day simple moving average is $17.51.

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 the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the previous year, the firm posted $0.09 EPS. Grindr’s revenue was up 29.6% on a year-over-year basis. On average, research analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GRND shares. Citizens Jmp decreased their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Raymond James Financial cut their price objective on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Grindr in a research report on Monday. Finally, JMP Securities cut their price target on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Grindr currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Trading of Grindr

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd raised its holdings in Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock valued at $305,000 after buying an additional 459 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Grindr during the first quarter worth approximately $376,000. Vanguard Group Inc. increased its position in shares of Grindr by 23.5% in the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock worth $30,690,000 after acquiring an additional 325,996 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Grindr by 42.0% in the 1st quarter. Deutsche Bank AG now owns 402,822 shares of the company’s stock valued at $7,211,000 after acquiring an additional 119,121 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Grindr in the 1st quarter valued at $20,049,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.