Key Points
- Director George Zage III sold 166,400 Grindr shares at an average price of $15.41, generating $2.56 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 2.13% to 7.63 million shares.
- Grindr shares opened at $15.40, near the middle of their 12-month range, while the company’s latest quarterly results showed $138.14 million in revenue but earnings per share of $0.10, below the $0.16 analyst consensus.
- Analyst sentiment remains favorable, with five Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $20.00.
Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 166,400 shares of Grindr stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $15.41, for a total value of $2,564,224.00. Following the completion of the transaction, the director owned 7,627,743 shares in the company, valued at $117,543,519.63. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
George Raymond Zage III also recently made the following trade(s):
- On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The stock was sold at an average price of $15.62, for a total value of $5,210,832.00.
Grindr Trading Down 0.3%
Shares of NYSE GRND opened at $15.40 on Friday. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 30.81 and a beta of 0.19. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30. The business has a fifty day simple moving average of $15.84 and a 200-day simple moving average of $13.99.
Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). The company had revenue of $138.14 million during the quarter, compared to analysts' expectations of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. Sell-side analysts predict that Grindr Inc. will post 0.51 EPS for the current year.
Analyst Ratings Changes
Several research analysts have recently weighed in on GRND shares. The Goldman Sachs Group reissued a "buy" rating and issued a $19.00 target price on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Grindr in a research note on Tuesday, September 8th. TD Cowen reiterated a "buy" rating on shares of Grindr in a research report on Monday, June 1st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.00.
View Our Latest Stock Report on Grindr
Hedge Funds Weigh In On Grindr
Several institutional investors and hedge funds have recently bought and sold shares of GRND. Rockefeller Capital Management L.P. acquired a new position in shares of Grindr in the 4th quarter valued at about $45,000. Covestor Ltd boosted its holdings in shares of Grindr by 49,170.0% during the fourth quarter. Covestor Ltd now owns 4,927 shares of the company's stock worth $67,000 after purchasing an additional 4,917 shares during the period. State of Wyoming purchased a new position in Grindr during the second quarter valued at approximately $83,000. Susquehanna Fundamental Investments LLC purchased a new position in Grindr during the second quarter valued at approximately $159,000. Finally, Jupiter Topco LLC acquired a new position in Grindr in the 2nd quarter valued at approximately $183,000. Hedge funds and other institutional investors own 7.22% of the company's stock.
Grindr Company Profile
(
Get Free Report)
Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.
The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.
Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.
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