Key Points
- Director George Raymond Zage III bought 100,000 shares on Dec. 2 at $12.95 for $1.295M, bringing his direct stake to 1,310,507 shares (an 8.26% increase); he has accumulated a total of 1,400,000 shares since Oct. 9 through multiple purchases.
- Grindr reported revenue of $115.77M (up 29.6% YoY) and EPS of $0.16, beating estimates, while the stock trades near $13.85 with mixed analyst views—an average "Moderate Buy" and $22.50 target—alongside a negative P/E and elevated debt-to-equity.
Grindr Inc. (NYSE:GRND - Get Free Report) Director George Raymond Zage III bought 100,000 shares of Grindr stock in a transaction that occurred on Tuesday, December 2nd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $1,295,000.00. Following the acquisition, the director directly owned 1,310,507 shares of the company's stock, valued at $16,971,065.65. The trade was a 8.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
George Raymond Zage III also recently made the following trade(s):
- On Monday, December 1st, George Raymond Zage III bought 150,000 shares of Grindr stock. The shares were acquired at an average cost of $12.91 per share, with a total value of $1,936,500.00.
- On Friday, November 28th, George Raymond Zage III purchased 150,000 shares of Grindr stock. The stock was acquired at an average price of $12.88 per share, for a total transaction of $1,932,000.00.
- On Thursday, October 9th, George Raymond Zage III purchased 1,000,000 shares of Grindr stock. The shares were acquired at an average cost of $13.15 per share, for a total transaction of $13,150,000.00.
Grindr Price Performance
GRND opened at $13.85 on Friday. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13. The company has a 50 day moving average of $13.71 and a two-hundred day moving average of $17.51. The company has a market cap of $2.56 billion, a P/E ratio of -37.43 and a beta of 0.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.
Grindr (NYSE:GRND - Get Free Report) last posted its 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 negative net margin of 11.99% and a positive return on equity of 80.21%. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business's quarterly revenue was up 29.6% on a year-over-year basis. On average, analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on GRND shares. Citizens Jmp lowered their price objective on shares of Grindr from $23.00 to $21.00 and set a "market outperform" rating for the company in a research report on Monday, November 10th. Raymond James Financial reduced their price objective on Grindr from $26.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. JMP Securities cut their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Grindr in a report on Monday. Finally, Wall Street Zen cut shares of 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 given a Sell rating to the company's stock. According to MarketBeat, Grindr presently has an average rating of "Moderate Buy" and an average target price of $22.50.
Read Our Latest Research Report on GRND
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its position in shares of Grindr by 2.8% in the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after acquiring an additional 459 shares in the last quarter. CWM LLC lifted its holdings in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company's stock valued at $56,000 after purchasing an additional 552 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock worth $517,000 after buying an additional 762 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Grindr by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company's stock valued at $77,000 after buying an additional 1,002 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Grindr by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company's stock valued at $332,000 after buying an additional 1,086 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.
Grindr Company Profile
(
Get Free Report)
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.
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