Grindr (NYSE:GRND) Director Sells $19,050.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $12.70, for a total transaction of $19,050.00. Following the completion of the transaction, the director directly owned 15,833 shares in the company, valued at $201,079.10. This trade represents a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Nathan Richardson also recently made the following trade(s):

• On Tuesday, November 18th, Nathan Richardson sold 1,500 shares of Grindr stock. The shares were sold at an average price of $13.55, for a total value of $20,325.00.
• On Friday, November 14th, Nathan Richardson sold 485 shares of Grindr stock. The stock was sold at an average price of $14.03, for a total value of $6,804.55.
• On Tuesday, October 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $13.50, for a total value of $13,500.00.
• On Monday, September 15th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $16.19, for a total value of $16,190.00.

Grindr Trading Up 0.9%

NYSE:GRND opened at $13.63 on Friday. The company has a market capitalization of $2.52 billion, a P/E ratio of -36.84 and a beta of 0.23. The stock’s 50 day moving average price is $13.71 and its 200 day moving average price is $17.51. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a 52 week low of $11.73 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, research analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Grindr by 0.4% during the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after purchasing an additional 9,952 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after buying an additional 1,058,084 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Grindr by 93.5% during the 2nd quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after buying an additional 608,554 shares during the period. Nuveen LLC bought a new position in shares of Grindr during the 1st quarter worth approximately $20,049,000. Finally, Bwcp LP boosted its stake in Grindr by 61.8% in the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after buying an additional 418,994 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GRND. JMP Securities lowered their price objective on Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, August 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Grindr in a report on Monday. Citizens Jmp decreased their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Raymond James Financial dropped their target price on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research 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 stock. Based on data from MarketBeat, Grindr has an average rating of “Moderate Buy” and a consensus 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.