Insider Selling: Grindr (NYSE:GRND) Director Sells $3,989,485.50 in Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 292,270 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total transaction of $3,989,485.50. Following the completion of the sale, the director owned 7,127,743 shares in the company, valued at $97,293,691.95. This represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The shares were 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 stock was sold at an average price of $15.62, for a total transaction of $5,210,832.00.

Grindr Price Performance

Shares of Grindr stock traded up $0.15 during trading hours on Monday, reaching $13.58. The company’s stock had a trading volume of 1,561,008 shares, compared to its average volume of 1,578,715. The firm has a 50 day moving average price of $15.86 and a 200-day moving average price of $14.25. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $2.36 billion, a P/E ratio of 27.15 and a beta of 0.19. Grindr Inc. has a one year low of $9.73 and a one year high of $18.50.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The business had revenue of $138.14 million during the quarter, compared to the consensus estimate of $132.50 million. On average, analysts predict that Grindr Inc. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

GRND has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reissued an “overweight” rating on shares of Grindr in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $19.00 price target on shares of Grindr in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Investors Weigh In On Grindr

Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. purchased a new stake in shares of Grindr in the 4th quarter worth approximately $45,000. Versant Capital Management Inc lifted its holdings in shares of Grindr by 53.8% during the third quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after purchasing an additional 1,338 shares during the period. State of Wyoming acquired a new stake in shares of Grindr during the second quarter worth $83,000. Susquehanna Fundamental Investments LLC purchased a new position in Grindr in the 2nd quarter valued at $159,000. Finally, Jupiter Topco LLC acquired a new position in Grindr in the 2nd quarter valued at $183,000. Institutional investors own 7.22% of the company’s stock.

About Grindr

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.