Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz Sells 43,565 Shares

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 43,565 shares of Grindr stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $16.89, for a total transaction of $735,812.85. Following the completion of the sale, the chief financial officer owned 688,047 shares of the company’s stock, valued at $11,621,113.83. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Vandana Mehta-Krantz also recently made the following trade(s):

• On Monday, June 23rd, Vandana Mehta-Krantz sold 20,982 shares of Grindr stock. The stock was sold at an average price of $22.18, for a total transaction of $465,380.76.
• On Monday, June 16th, Vandana Mehta-Krantz sold 56,611 shares of Grindr stock. The stock was sold at an average price of $23.47, for a total transaction of $1,328,660.17.

Grindr Stock Performance

Shares of Grindr stock opened at $16.26 on Thursday. The firm has a market capitalization of $3.18 billion, a P/E ratio of -36.95 and a beta of 0.25. The company has a quick ratio of 4.22, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average price of $20.71 and a 200 day moving average price of $20.00. Grindr Inc. has a 52 week low of $11.39 and a 52 week high of $25.13.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Raymond James Financial dropped their price objective 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. Citizens Jmp started coverage on shares of Grindr in a report on Monday, June 30th. They issued an “outperform” rating and a $27.00 price objective on the stock. JMP Securities lowered their price target on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday. Finally, Wall Street Zen downgraded shares of Grindr from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grindr currently has a consensus rating of “Buy” and a consensus price target of $22.60.

Hedge Funds Weigh In On Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Grindr by 23.5% in the 1st quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock worth $30,690,000 after buying an additional 325,996 shares during the period. Nuveen LLC acquired a new position in Grindr in the 1st quarter worth approximately $20,049,000. Marshall Wace LLP grew its stake in shares of Grindr by 85.2% during the 4th quarter. Marshall Wace LLP now owns 1,117,053 shares of the company’s stock worth $19,928,000 after purchasing an additional 513,770 shares during the period. Bwcp LP grew its stake in shares of Grindr by 61.8% during the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock worth $19,629,000 after purchasing an additional 418,994 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of Grindr by 7.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,049,011 shares of the company’s stock worth $18,777,000 after purchasing an additional 74,703 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.