Grindr (NYSE:GRND) Director George Raymond Zage III Sells 166,400 Shares of Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 166,400 shares of the 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 directly owned 7,627,743 shares of the company’s stock, valued at approximately $117,543,519.63. The trade was a 2.13% decrease in their position. The transaction 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.

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 shares were sold at an average price of $15.62, for a total transaction of $5,210,832.00.

Grindr Stock Performance

GRND stock opened at $15.40 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of 30.81 and a beta of 0.19. The company has a 50-day simple moving average of $15.84 and a 200 day simple moving average of $13.99. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $18.50. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) 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 the consensus estimate of $132.50 million. Grindr had a net margin of 18.75% and a return on equity of 357.13%. Sell-side analysts predict that Grindr Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GRND. The Goldman Sachs Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Grindr in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Grindr in a report on Friday, August 7th. Raymond James Financial restated an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently bought and sold shares of the business. Emmett Investment Management LP acquired a new position in shares of Grindr in the 1st quarter worth approximately $3,702,000. Canada Pension Plan Investment Board acquired a new stake in Grindr during the second quarter valued at approximately $1,631,000. BlackRock Inc. acquired a new stake in Grindr during the second quarter valued at approximately $49,159,000. Dimensional Fund Advisors LP boosted its holdings in Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock worth $16,881,000 after buying an additional 610,111 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Grindr by 194.0% during the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company’s stock worth $1,427,000 after buying an additional 77,867 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

About Grindr

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.