Grindr (NYSE:GRND) Stock: Insider George Raymond Zage III Sells 350,000 Shares

Grindr Inc. (NYSE:GRND) Director George Zage III sold 350,000 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $14.23, for a total value of $4,980,500.00. Following the completion of the transaction, the director directly owned 6,777,743 shares in the company, valued at $96,447,282.89. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Monday, October 19th, George Zage III sold 150,000 shares of Grindr stock. The stock was sold at an average price of $13.87, for a total value of $2,080,500.00.
• On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $3,989,485.50.
• On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The shares were sold at an average price of $14.17, for a total value of $2,943,534.10.
• 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.
• 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 value of $5,210,832.00.

Grindr Stock Down 0.4%

Grindr stock traded down $0.05 during midday trading on Tuesday, hitting $14.06. 1,501,510 shares of the company were exchanged, compared to its average volume of 1,588,991. The company has a market cap of $2.44 billion, a PE ratio of 28.12 and a beta of 0.19. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $18.50. The company’s fifty day moving average price is $15.33 and its 200-day moving average price is $14.42. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $138.14 million during 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, research analysts predict that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Grindr during the second quarter valued at approximately $49,159,000. Tikvah Management LLC grew its position in shares of Grindr by 8.1% in the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock worth $21,034,000 after acquiring an additional 109,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Alberta Investment Management Corp acquired a new position in shares of Grindr in the 2nd quarter worth approximately $7,904,000. Finally, SPX Gestao de Recursos Ltda increased its holdings in shares of Grindr by 13.4% in the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock valued at $5,511,000 after acquiring an additional 54,000 shares during the last quarter. 7.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GRND shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grindr in a research note on Friday, August 7th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating and set a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Grindr in a research report on Thursday, October 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Grindr Company Profile

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.