Grindr (NYSE:GRND) Insider Sells $187,505.35 in Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 12,799 shares of Grindr stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $14.65, for a total transaction of $187,505.35. Following the completion of the sale, the insider owned 726,123 shares in the company, valued at $10,637,701.95. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Zachary Katz sold 12,800 shares of Grindr stock. The shares were sold at an average price of $16.28, for a total transaction of $208,384.00.
• On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The stock was sold at an average price of $13.29, for a total transaction of $135,185.88.

Grindr Trading Up 2.5%

Grindr stock opened at $16.09 on Friday. The firm has a 50-day moving average of $13.16 and a 200-day moving average of $12.52. Grindr Inc. has a one year low of $9.73 and a one year high of $22.73. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 33.51 and a beta of 0.22.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Grindr had a return on equity of 123.31% and a net margin of 19.85%.The company had revenue of $129.94 million during the quarter, compared to analysts’ expectations of $119.42 million. On average, equities analysts expect that Grindr Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock valued at $34,430,000 after buying an additional 9,952 shares during the last quarter. Norges Bank acquired a new position in shares of Grindr during the 4th quarter worth approximately $27,441,000. Quinn Opportunity Partners LLC acquired a new position in shares of Grindr during the 4th quarter worth approximately $20,565,000. Dimensional Fund Advisors LP raised its stake in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after acquiring an additional 1,058,084 shares during the period. Institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

GRND has been the topic of several recent analyst reports. Weiss Ratings raised Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. TD Cowen reissued a “buy” rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley raised shares of Grindr from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $15.00 to $18.00 in a research note on Wednesday. Wall Street Zen raised shares of Grindr to a “hold” rating in a research report on Saturday, June 27th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $18.00 price target on shares of Grindr in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Grindr has an average rating of “Moderate Buy” and a consensus price target of $19.20.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.