Zachary Katz Sells 15,601 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 15,601 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $13.73, for a total transaction of $214,201.73. Following the transaction, the insider directly owned 532,738 shares of the company’s stock, valued at $7,314,492.74. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Zachary Katz also recently made the following trade(s):

• On Monday, October 13th, Zachary Katz sold 7,645 shares of Grindr stock. The stock was sold at an average price of $12.83, for a total transaction of $98,085.35.
• On Monday, September 15th, Zachary Katz sold 7,644 shares of Grindr stock. The shares were sold at an average price of $15.64, for a total value of $119,552.16.

Grindr Price Performance

NYSE:GRND traded down $0.01 on Wednesday, reaching $13.19. 1,543,302 shares of the company’s stock traded hands, compared to its average volume of 2,003,671. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13. The stock has a 50-day simple moving average of $14.58 and a 200-day simple moving average of $18.81. The firm has a market cap of $2.53 billion, a PE ratio of -29.98 and a beta of 0.22.

Grindr (NYSE:GRND) last released its earnings results on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.Grindr’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. Equities research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

A number of large investors have recently made changes to their positions in GRND. GAMMA Investing LLC increased its position in Grindr by 45.5% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Grindr during the 1st quarter valued at approximately $197,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company’s stock worth $1,808,000 after buying an additional 5,265 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Grindr by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 53,998 shares of the company’s stock worth $967,000 after buying an additional 1,111 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Grindr during the first quarter valued at $1,955,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRND has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. JMP Securities decreased their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Raymond James Financial lowered their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus 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.