Grindr (NYSE:GRND) Director George Raymond Zage III Acquires 80,000 Shares

Grindr Inc. (NYSE:GRND) Director George Raymond Zage III bought 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were bought at an average price of $13.50 per share, for a total transaction of $1,080,000.00. Following the completion of the acquisition, the director owned 8,063,283 shares in the company, valued at approximately $108,854,320.50. This trade represents a 1.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, December 3rd, George Raymond Zage III acquired 75,000 shares of Grindr stock. The stock was purchased at an average cost of $13.48 per share, with a total value of $1,011,000.00.
• On Tuesday, December 2nd, George Raymond Zage III acquired 100,000 shares of Grindr stock. The shares were purchased at an average price of $12.95 per share, for a total transaction of $1,295,000.00.
• On Monday, December 1st, George Raymond Zage III bought 150,000 shares of Grindr stock. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $1,936,500.00.
• On Friday, November 28th, George Raymond Zage III purchased 150,000 shares of Grindr stock. The shares were purchased at an average cost 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 cost of $13.15 per share, for a total transaction of $13,150,000.00.

Grindr Stock Performance

Shares of GRND stock opened at $13.48 on Friday. 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 company’s fifty day moving average price is $13.66 and its two-hundred day moving average price is $17.44. The firm has a market capitalization of $2.49 billion, a P/E ratio of -36.43 and a beta of 0.23. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on GRND. Citizens Jmp dropped their price objective on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Grindr in a research note on Monday. JMP Securities dropped 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, Raymond James Financial reduced their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd boosted its position in Grindr by 2.8% during the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock worth $305,000 after acquiring an additional 459 shares during the period. CWM LLC raised its stake in shares of Grindr by 28.7% during the second quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the period. Ameritas Investment Partners Inc. grew its position in Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after buying an additional 1,002 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Grindr by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 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.