Key Points
- Significant insider buying: Director George Raymond Zage III purchased a total of 1,555,000 Grindr shares between Oct. 9 and Dec. 4 at prices ~ $12.88–$13.50, spending about $20.4 million, and was reported to own 1,385,507 shares after the Dec. 3 filing.
- Mixed fundamentals but analyst optimism: Grindr has a $2.49B market cap and recently beat quarterly EPS with revenue up 29.6% year-over-year, though it posted a negative net margin; analysts give a consensus rating of "Moderate Buy" with a $22.50 target.
Grindr Inc. (NYSE:GRND - Get Free Report) Director George Raymond Zage III bought 75,000 shares of the business's stock in a transaction dated Wednesday, December 3rd. The stock was acquired at an average price of $13.48 per share, for a total transaction of $1,011,000.00. Following the purchase, the director directly owned 1,385,507 shares in the company, valued at approximately $18,676,634.36. The trade was a 5.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
George Raymond Zage III also recently made the following trade(s):
- On Thursday, December 4th, George Raymond Zage III purchased 80,000 shares of Grindr stock. The shares were acquired at an average cost of $13.50 per share, with a total value of $1,080,000.00.
- On Tuesday, December 2nd, George Raymond Zage III purchased 100,000 shares of Grindr stock. The shares were acquired at an average price of $12.95 per share, for a total transaction of $1,295,000.00.
- On Monday, December 1st, George Raymond Zage III acquired 150,000 shares of Grindr stock. The stock was acquired 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 bought 150,000 shares of Grindr stock. The shares were acquired 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 acquired at an average price of $13.15 per share, for a total transaction of $13,150,000.00.
Grindr Price Performance
Shares of NYSE:GRND opened at $13.48 on Friday. The company has a market capitalization of $2.49 billion, a P/E ratio of -36.43 and a beta of 0.23. The company's 50-day moving average is $13.66 and its 200 day moving average is $17.44. 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 fifty-two week low of $11.73 and a fifty-two week high of $25.13.
Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The company's revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GRND has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Grindr in a research note on Monday. Raymond James Financial lowered their target price on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citizens Jmp cut their price target on Grindr from $23.00 to $21.00 and set a "market outperform" rating for the company in a research note on Monday, November 10th. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. Finally, JMP Securities dropped their price objective on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.50.
View Our Latest Stock Report on GRND
Hedge Funds Weigh In On Grindr
A number of large investors have recently made changes to their positions in GRND. Vanguard Group Inc. lifted its holdings in Grindr by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company's stock worth $34,430,000 after purchasing an additional 9,952 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Grindr by 327.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company's stock valued at $20,746,000 after buying an additional 1,058,084 shares during the period. Bank of America Corp DE lifted its holdings in shares of Grindr by 93.5% in the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company's stock worth $28,589,000 after buying an additional 608,554 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Grindr in the first quarter worth about $20,049,000. Finally, Bwcp LP boosted its position in shares of Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company's stock valued at $19,629,000 after acquiring an additional 418,994 shares during the period. 7.22% of the stock is owned by 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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