Key Points
- Grindr insider Zachary Katz sold 12,979 shares for approximately $232,194 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 1.85% to 690,172 shares.
- Grindr shares opened at $17.71, near their 12-month high of $18.69, while the company reported quarterly revenue of $129.94 million and EPS of $0.14, exceeding analyst estimates.
- Analyst sentiment remains favorable, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $19.20; institutional investors own 7.22% of the stock.
Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 12,979 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $17.89, for a total transaction of $232,194.31. Following the transaction, the insider directly owned 690,172 shares of the company's stock, valued at $12,347,177.08. The trade was a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zachary Katz also recently made the following trade(s):
- On Wednesday, July 1st, Zachary Katz sold 12,800 shares of Grindr stock. The stock was sold at an average price of $16.28, for a total transaction of $208,384.00.
- On Monday, June 29th, Zachary Katz sold 12,799 shares of Grindr stock. The shares were sold at an average price of $14.65, for a total transaction of $187,505.35.
- On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The shares were sold at an average price of $13.29, for a total transaction of $135,185.88.
Grindr Trading Down 1.3%
Shares of Grindr stock opened at $17.71 on Thursday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 36.89 and a beta of 0.20. The business has a 50-day moving average price of $14.38 and a 200-day moving average price of $12.97. 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 twelve month low of $9.73 and a twelve month high of $18.69.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results 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 return on equity of 123.31% and a net margin of 19.85%.The company had revenue of $129.94 million for the quarter, compared to the consensus estimate of $119.42 million. Equities research analysts anticipate that Grindr Inc. will post 0.59 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in Grindr by 289.1% during the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company's stock valued at $1,578,000 after purchasing an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock worth $517,000 after purchasing an additional 762 shares during the period. Creative Planning purchased a new position in shares of Grindr in the 2nd quarter worth approximately $310,000. Legal & General Group Plc increased its position in shares of Grindr by 33.8% during the 2nd quarter. Legal & General Group Plc now owns 30,341 shares of the company's stock valued at $689,000 after purchasing an additional 7,668 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Grindr by 27.8% during the 2nd quarter. Rhumbline Advisers now owns 55,006 shares of the company's stock valued at $1,249,000 after purchasing an additional 11,963 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.
Wall Street Analysts Forecast Growth
GRND has been the topic of a number of research reports. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Morgan Stanley upgraded Grindr from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $15.00 to $18.00 in a research report on Wednesday, July 1st. TD Cowen reissued a "buy" rating on shares of Grindr in a report on Monday, June 1st. Weiss Ratings upgraded shares of Grindr from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Finally, 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Grindr currently has a consensus rating of "Moderate Buy" and an average target price of $19.20.
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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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