Grindr Inc. (NYSE:GRND) Insider Zachary Katz Sells 14,692 Shares

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 14,692 shares of Grindr stock in a transaction on Monday, June 16th. The shares were sold at an average price of $23.47, for a total value of $344,821.24. Following the transaction, the insider now owns 624,497 shares in the company, valued at $14,656,944.59. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Grindr Stock Down 0.2%

Grindr stock opened at $22.98 on Thursday. The business has a fifty day moving average of $22.48 and a two-hundred day moving average of $19.11. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.50 billion, a P/E ratio of -35.35 and a beta of 0.31. Grindr Inc. has a twelve month low of $9.42 and a twelve month high of $25.13.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Grindr had a positive return on equity of 219.47% and a negative net margin of 26.04%. On average, analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Grindr

A number of hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd lifted its holdings in Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock worth $305,000 after buying an additional 459 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Grindr by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company’s stock valued at $944,000 after purchasing an additional 623 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Grindr from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Raymond James Financial reaffirmed an “outperform” rating and issued a $26.00 target price (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Grindr in a research note on Monday, April 21st. Finally, Wall Street Zen raised Grindr from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.25.

About Grindr

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.