Key Points
- Director George Zage III sold 207,730 Grindr shares at an average price of $14.17, generating approximately $2.94 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his direct stake by 2.72% to 7.42 million shares.
- Zage has made several additional sales recently, including 292,270 shares on October 2 and a combined 500,000 shares in September, totaling more than $14.7 million across the reported transactions.
- Grindr shares opened at $13.58, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and a $20 average price target. The company’s latest quarterly revenue exceeded estimates, but earnings per share fell short of consensus.
Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 207,730 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $14.17, for a total transaction of $2,943,534.10. Following the sale, the director directly owned 7,420,013 shares in the company, valued at approximately $105,141,584.21. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total transaction of $3,989,485.50.
- On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was sold at an average price of $15.41, for a total transaction of $2,564,224.00.
- On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The shares were sold at an average price of $15.62, for a total transaction of $5,210,832.00.
Grindr Stock Performance
Shares of Grindr stock opened at $13.58 on Tuesday. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $15.82 and a 200 day simple moving average of $14.26. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $18.50. The firm has a market cap of $2.36 billion, a P/E ratio of 27.15 and a beta of 0.19.
Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $138.14 million for the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.
Analysts Set New Price Targets
GRND has been the topic of a number of research reports. Morgan Stanley restated an "overweight" rating on shares of Grindr in a research report on Tuesday, September 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research note on Friday, August 7th. Citigroup restated a "market outperform" rating on shares of Grindr in a report on Thursday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Grindr in a research note on Friday, August 7th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Grindr in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.
Get Our Latest Report on GRND
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Grindr by 53.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company's stock valued at $59,000 after acquiring an additional 1,338 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Grindr during the 4th quarter worth approximately $45,000. Bank of New York Mellon Corp grew its stake in shares of Grindr by 5.0% during the 1st quarter. Bank of New York Mellon Corp now owns 113,388 shares of the company's stock worth $1,371,000 after acquiring an additional 5,429 shares in the last quarter. State of Wyoming bought a new position in shares of Grindr during the 2nd quarter worth approximately $83,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Grindr in the second quarter valued at approximately $159,000. 7.22% of the stock is currently owned by institutional investors.
About Grindr
(
Get Free Report)
Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.
The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.
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