Insider Selling: Grindr (NYSE:GRND) Director Sells $2,943,534.10 in Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 207,730 shares of Grindr stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $14.17, for a total value of $2,943,534.10. Following the sale, the director directly owned 7,420,013 shares of the company’s stock, valued at approximately $105,141,584.21. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total value of $3,989,485.50.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was 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 Price Performance

NYSE GRND traded up $0.15 on Monday, reaching $13.58. 1,561,008 shares of the company’s stock traded hands, compared to its average volume of 1,578,715. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a 50-day simple moving average of $15.86 and a 200 day simple moving average of $14.25. The stock has a market cap of $2.36 billion, a PE ratio of 27.15 and a beta of 0.19.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). Grindr had a return on equity of 357.13% and a net margin of 18.75%.The business had revenue of $138.14 million during the quarter, compared to the consensus estimate of $132.50 million. As a group, research analysts predict that Grindr Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Grindr in a research note on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Grindr in a report on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Grindr in a research note on Thursday. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Morgan Stanley restated an “overweight” rating on shares of Grindr in a research report on Tuesday, September 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Grindr

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Grindr in the second quarter valued at about $49,159,000. Norges Bank bought a new stake in shares of Grindr in the fourth quarter worth about $27,441,000. Tikvah Management LLC bought a new stake in shares of Grindr in the fourth quarter worth about $10,964,000. Dimensional Fund Advisors LP increased its holdings in Grindr by 77.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after purchasing an additional 610,111 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in Grindr during the 2nd quarter valued at about $7,904,000. Institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.