Key Points
- Grindr insider Zachary Katz sold 12,799 shares on June 29 at an average price of $14.65, totaling about $187,505. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Katz still held 726,123 shares, meaning the sale reduced his ownership by 1.73%. He had also sold 10,172 shares earlier in June.
- Grindr recently reported better-than-expected quarterly results, with EPS of $0.14 versus $0.13 expected and revenue of $129.94 million versus $119.42 million. Analysts remain mostly positive, with an average rating of Moderate Buy and a $19.20 average price target.
Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 12,799 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $14.65, for a total transaction of $187,505.35. Following the sale, the insider owned 726,123 shares in the company, valued at $10,637,701.95. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zachary Katz also recently made the following trade(s):
- On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The stock was sold at an average price of $13.29, for a total transaction of $135,185.88.
Grindr Stock Performance
Shares of GRND opened at $14.35 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $22.73. The company has a 50-day simple moving average of $13.06 and a 200-day simple moving average of $12.48. The company has a market capitalization of $2.55 billion, a PE ratio of 29.90 and a beta of 0.24.
Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Grindr had a net margin of 19.85% and a return on equity of 123.31%. The firm had revenue of $129.94 million for the quarter, compared to the consensus estimate of $119.42 million. Equities research analysts predict that Grindr Inc. will post 0.58 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Grindr
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SPX Gestao de Recursos Ltda grew its stake in Grindr by 321.1% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 177,300 shares of the company's stock worth $2,663,000 after acquiring an additional 135,200 shares during the period. Fort Point Capital Partners LLC raised its holdings in Grindr by 123.7% in the 3rd quarter. Fort Point Capital Partners LLC now owns 225,545 shares of the company's stock valued at $3,388,000 after acquiring an additional 124,740 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 period. Neo Ivy Capital Management purchased a new position in shares of Grindr during the 3rd quarter worth $1,310,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Grindr by 141.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 129,319 shares of the company's stock worth $1,796,000 after purchasing an additional 75,704 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on GRND shares. Wall Street Zen raised Grindr to a "hold" rating in a report on Saturday. Weiss Ratings upgraded Grindr from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Raymond James Financial reaffirmed an "outperform" rating and set a $18.00 price target on shares of Grindr in a research note on Friday, May 8th. Morgan Stanley upgraded shares of Grindr to an "overweight" rating and set a $18.00 price objective on the stock in a research report on Wednesday. Finally, TD Cowen reissued a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.20.
Get Our Latest Stock Report on GRND
Grindr Company Profile
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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.
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