Nathan Richardson Sells 1,000 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $13.50, for a total value of $13,500.00. Following the completion of the transaction, the director directly owned 19,318 shares of the company’s stock, valued at approximately $260,793. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Nathan Richardson also recently made the following trade(s):

• On Monday, September 15th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.19, for a total value of $16,190.00.
• On Thursday, August 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.27, for a total value of $16,270.00.

Grindr Trading Down 0.1%

Shares of GRND opened at $12.71 on Friday. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $15.23 and a 200-day simple moving average of $19.19. The stock has a market cap of $2.44 billion, a PE ratio of -28.89 and a beta of 0.23.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in Grindr in the 2nd quarter valued at $39,000. CWM LLC boosted its position in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after buying an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted its position in Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock valued at $38,000 after buying an additional 662 shares during the last quarter. Finally, Huntington National Bank bought a new position in shares of Grindr in the 2nd quarter worth $64,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GRND has been the topic of a number of research analyst reports. Citizens Jmp initiated coverage on Grindr in a research report on Monday, June 30th. They set an “outperform” rating and a $27.00 price target on the stock. Wall Street Zen upgraded Grindr from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Raymond James Financial decreased their price target on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Finally, JMP Securities decreased their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.