Grindr (NYSE:GRND) Director George Raymond Zage III Sells 333,600 Shares of Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 333,600 shares of Grindr stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $15.62, for a total value of $5,210,832.00. Following the sale, the director directly owned 7,794,143 shares of the company’s stock, valued at $121,744,513.66. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a document filed 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 Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The shares were sold at an average price of $15.41, for a total value of $2,564,224.00.

Grindr Price Performance

Shares of NYSE:GRND opened at $15.40 on Friday. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $18.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. The company has a market cap of $2.68 billion, a PE ratio of 30.81 and a beta of 0.19. The company’s 50 day moving average is $15.84 and its 200 day moving average is $13.99.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.06). The business had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. Grindr had a net margin of 18.75% and a return on equity of 357.13%. On average, sell-side analysts forecast that Grindr Inc. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Grindr in the second quarter worth about $49,159,000. Norges Bank acquired a new stake in shares of Grindr during the 4th quarter valued at about $27,441,000. Tikvah Management LLC grew its position in shares of Grindr by 8.1% during the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after acquiring an additional 109,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 610,111 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Grindr in the 2nd quarter valued at about $7,904,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.