Key Points
- Insider sale: Grindr director Nathan Richardson sold 1,500 shares on Jan. 2 at $13.66 for $20,490, reducing his stake by 9.47% to 14,333 shares (valued at ~$195,789).
- Ongoing selling pattern: Richardson has sold multiple tranches since October (Dec. 1, Nov. 18, Nov. 14, Oct. 14), totaling about 5,985 shares sold across Oct–Jan.
- Company snapshot: Grindr has a $2.43 billion market cap, recently beat quarterly EPS and revenue estimates but reported a negative net margin of 11.99%, and carries a consensus analyst rating of "Moderate Buy" with an average price target of $22.50.
Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,500 shares of the company's stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.66, for a total value of $20,490.00. Following the completion of the sale, the director owned 14,333 shares in the company, valued at $195,788.78. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Nathan Richardson also recently made the following trade(s):
- On Monday, December 1st, Nathan Richardson sold 1,500 shares of Grindr stock. The shares were sold at an average price of $12.70, for a total value of $19,050.00.
- On Tuesday, November 18th, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $13.55, for a total transaction of $20,325.00.
- On Friday, November 14th, Nathan Richardson sold 485 shares of Grindr stock. The stock was sold at an average price of $14.03, for a total transaction of $6,804.55.
- On Tuesday, October 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $13.50, for a total transaction of $13,500.00.
Grindr Price Performance
NYSE:GRND opened at $13.17 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The firm has a market cap of $2.43 billion, a PE ratio of -35.60 and a beta of 0.23. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13. The company's 50-day moving average price is $13.62 and its two-hundred day moving average price is $15.80.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to analysts' expectations of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. Grindr's quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.
Institutional Trading of Grindr
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Grindr by 33.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company's stock worth $5,199,000 after purchasing an additional 87,076 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $26,000. Jacobs Levy Equity Management Inc. grew its position in shares of Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company's stock worth $20,746,000 after buying an additional 1,058,084 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Grindr by 144.0% during the third quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company's stock worth $15,675,000 after buying an additional 615,900 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new position in Grindr in the third quarter valued at approximately $249,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GRND has been the topic of several research analyst reports. Citizens Jmp decreased their target price on Grindr from $23.00 to $21.00 and set a "market outperform" rating on the stock in a report on Monday, November 10th. Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a report on Saturday, October 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Grindr in a research report on Monday, December 29th. Five investment 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 stock presently has an average rating of "Moderate Buy" and an average price target of $22.50.
Check Out Our Latest Stock Analysis on Grindr
Grindr Company Profile
(
Get Free Report)
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.
Further Reading
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