Key Points
- Director Nathan Richardson sold 1,500 shares on April 1 at an average price of $12.17 for $18,255, trimming his stake by 13.24% to 9,833 shares; he also sold 1,500 shares on Feb. 2 at $11.18.
- Grindr shares were trading around $12.17, valuing the company at about $2.25 billion with a PE of 28.31 and a 12‑month range of $9.73–$25.13.
- Analyst sentiment is mixed but leans positive with a consensus of Moderate Buy and a $18.80 average target, while some firms (TD Cowen, Goldman) cut targets and Morgan Stanley initiated coverage at Equal Weight with a $14 target.
Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,500 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $12.17, for a total transaction of $18,255.00. Following the transaction, the director owned 9,833 shares in the company, valued at approximately $119,667.61. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nathan Richardson also recently made the following trade(s):
- On Monday, February 2nd, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $11.18, for a total transaction of $16,770.00.
Grindr Trading Up 0.2%
NYSE:GRND opened at $12.17 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 28.31 and a beta of 0.21. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 8.00. The company has a 50 day simple moving average of $11.50 and a two-hundred day simple moving average of $12.93. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $25.13.
Analyst Upgrades and Downgrades
Several analysts recently commented on GRND shares. Weiss Ratings raised Grindr from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, March 4th. TD Cowen lowered their target price on Grindr from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, February 24th. The Goldman Sachs Group cut their price target on Grindr from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Finally, Morgan Stanley began coverage on shares of Grindr in a research report on Tuesday, February 24th. They set an "equal weight" rating and a $14.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Grindr has an average rating of "Moderate Buy" and a consensus target price of $18.80.
Read Our Latest Research Report on GRND
Institutional Trading of Grindr
Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Grindr during the 4th quarter valued at $27,441,000. Quinn Opportunity Partners LLC purchased a new stake in Grindr in the 4th quarter worth $20,565,000. Blacksheep Fund Management Ltd bought a new stake in Grindr during the fourth quarter valued at about $16,804,000. Balyasny Asset Management L.P. lifted its position in shares of Grindr by 442.6% in the third quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company's stock valued at $14,149,000 after acquiring an additional 1,217,017 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Grindr in the fourth quarter valued at about $15,631,000. 7.22% of the stock is currently owned by institutional investors.
About Grindr
(
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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