George Raymond Zage III Purchases 100,000 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director George Raymond Zage III acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was acquired at an average cost of $12.95 per share, with a total value of $1,295,000.00. Following the completion of the acquisition, the director directly owned 1,310,507 shares in the company, valued at approximately $16,971,065.65. This represents a 8.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

George Raymond Zage III also recently made the following trade(s):

• On Monday, December 1st, George Raymond Zage III acquired 150,000 shares of Grindr stock. The shares were bought at an average price of $12.91 per share, for a total transaction of $1,936,500.00.
• On Friday, November 28th, George Raymond Zage III acquired 150,000 shares of Grindr stock. The stock was bought at an average price of $12.88 per share, with a total value of $1,932,000.00.
• On Thursday, October 9th, George Raymond Zage III purchased 1,000,000 shares of Grindr stock. The shares were purchased at an average price of $13.15 per share, for a total transaction of $13,150,000.00.

Grindr Price Performance

Shares of Grindr stock traded up $0.12 during trading on Thursday, hitting $13.63. The stock had a trading volume of 1,195,358 shares, compared to its average volume of 2,002,867. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $2.52 billion, a P/E ratio of -36.84 and a beta of 0.23. The business has a fifty day moving average of $13.75 and a two-hundred day moving average of $17.54.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million during the quarter, compared to analyst estimates of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

Several institutional investors and hedge funds have recently modified their holdings of GRND. Y Intercept Hong Kong Ltd bought a new stake in shares of Grindr during the 2nd quarter worth about $1,832,000. Bryce Point Capital LLC bought a new stake in Grindr during the second quarter worth approximately $851,000. Tredje AP fonden acquired a new position in Grindr during the second quarter valued at approximately $956,000. Shaker Investments LLC OH acquired a new position in Grindr during the second quarter valued at approximately $992,000. Finally, NINE MASTS CAPITAL Ltd bought a new position in shares of Grindr in the second quarter valued at approximately $7,171,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Ratings Changes

GRND has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Grindr in a report on Monday. Raymond James Financial reduced their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Citizens Jmp dropped their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. JMP Securities cut their target price on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Grindr currently has an average rating of “Moderate Buy” and an average price target of $22.50.

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.