Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 150,000 shares of Grindr stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $13.87, for a total value of $2,080,500.00. Following the completion of the transaction, the director directly owned 6,627,743 shares in the company, valued at $91,926,795.41. This represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 16th, George Zage III sold 350,000 shares of Grindr stock. The stock was sold at an average price of $14.23, for a total value of $4,980,500.00.
- On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total transaction of $3,989,485.50.
- On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The stock was sold at an average price of $14.17, for a total transaction of $2,943,534.10.
- 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 stock was sold at an average price of $15.62, for a total transaction of $5,210,832.00.
Grindr Stock Down 0.4%
GRND stock opened at $14.06 on Wednesday. Grindr Inc. has a 52-week low of $9.73 and a 52-week high of $18.50. The company's 50 day simple moving average is $15.28 and its 200-day simple moving average is $14.44. 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 market capitalization of $2.44 billion, a P/E ratio of 28.12 and a beta of 0.19.
Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The firm had revenue of $138.14 million during the quarter, compared to analysts' expectations of $132.50 million. As a group, equities research analysts anticipate that Grindr Inc. will post 0.51 EPS for the current year.
Institutional Trading of Grindr
Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new stake in shares of Grindr during the fourth quarter worth approximately $45,000. Versant Capital Management Inc grew its position in Grindr by 53.8% during the third quarter. Versant Capital Management Inc now owns 3,825 shares of the company's stock valued at $59,000 after purchasing an additional 1,338 shares in the last quarter. State of Wyoming acquired a new position in Grindr in the 2nd quarter valued at approximately $83,000. State of Alaska Department of Revenue acquired a new position in Grindr in the 3rd quarter valued at approximately $106,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Grindr in the 2nd quarter valued at approximately $159,000. 7.22% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GRND has been the subject of a number of research analyst reports. Raymond James Financial restated an "outperform" rating on shares of Grindr in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Grindr in a report on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating on shares of Grindr in a report on Tuesday, September 8th. Citigroup reissued a "market outperform" rating on shares of Grindr in a research report on Thursday, October 1st. Finally, Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.00.
Read Our Latest Stock Analysis on GRND
About Grindr
(
Get Free Report)
Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.
The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.
Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.
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