Key Points
- Grindr insider Zachary Katz sold 15,227 shares at an average price of $15.23, generating about $231,907. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 2.4% to 618,000 shares.
- GRND shares fell 6.9% to $14.06, while the company’s latest quarterly earnings missed analyst expectations despite revenue exceeding forecasts.
- Analyst sentiment remains generally positive, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and an average price target of $20.00.
Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 15,227 shares of the firm's stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $15.23, for a total transaction of $231,907.21. Following the transaction, the insider directly owned 618,000 shares in the company, valued at approximately $9,412,140. The trade was a 2.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Zachary Katz also recently made the following trade(s):
- On Monday, August 3rd, Zachary Katz sold 12,979 shares of Grindr stock. The shares were sold at an average price of $17.89, for a total transaction of $232,194.31.
Grindr Stock Down 6.9%
GRND stock traded down $1.04 during trading hours on Friday, hitting $14.06. The company's stock had a trading volume of 2,526,833 shares, compared to its average volume of 1,871,229. 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 company has a market capitalization of $2.44 billion, a PE ratio of 28.13 and a beta of 0.19. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The stock has a 50 day moving average price of $15.37 and a two-hundred day moving average price of $14.39.
Grindr (NYSE:GRND - Get Free Report) last released 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). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The business had revenue of $138.14 million for the quarter, compared to the consensus estimate of $132.50 million. On average, equities research analysts expect that Grindr Inc. will post 0.51 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on GRND shares. Citigroup restated a "market outperform" rating on shares of Grindr in a report on Thursday, October 1st. Raymond James Financial reaffirmed an "outperform" rating on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research report on Friday, August 7th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Grindr in a research report on Tuesday, September 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Grindr has a consensus rating of "Moderate Buy" and an average target price of $20.00.
View Our Latest Stock Analysis on Grindr
Institutional Investors Weigh In On Grindr
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Grindr in the second quarter valued at about $49,159,000. Tikvah Management LLC grew its holdings in Grindr by 8.1% in the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company's stock valued at $21,034,000 after buying an additional 109,100 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Grindr by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock valued at $16,881,000 after buying an additional 610,111 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Grindr in the 2nd quarter valued at approximately $7,904,000. Finally, SPX Gestao de Recursos Ltda increased its position in Grindr by 13.4% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company's stock worth $5,511,000 after buying an additional 54,000 shares during the period. 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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
