Grindr (NYSE:GRND) Director George Raymond Zage III Sells 350,000 Shares of Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 350,000 shares of Grindr stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $14.23, for a total value of $4,980,500.00. Following the transaction, the director directly owned 6,777,743 shares in the company, valued at approximately $96,447,282.89. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Monday, October 19th, George Zage III sold 150,000 shares of Grindr stock. The shares were sold at an average price of $13.87, for a total value of $2,080,500.00.
• 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, October 1st, George Zage III sold 207,730 shares of Grindr stock. The stock was sold at an average price of $14.17, for a total transaction of $2,943,534.10.
• 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 transaction 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 transaction of $5,210,832.00.

Grindr Price Performance

NYSE GRND opened at $14.06 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 442.30. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 28.12 and a beta of 0.19. The company’s 50 day moving average is $15.28 and its two-hundred day moving average is $14.44.

Grindr (NYSE:GRND) last posted its quarterly earnings results 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). The firm had revenue of $138.14 million during the quarter, compared to the consensus estimate of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. As a group, research analysts anticipate that Grindr Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Grindr in a report on Thursday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Grindr in a research note on Friday, August 7th. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating and issued a $19.00 price objective on shares of Grindr in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Grindr during the second quarter worth $49,159,000. Dimensional Fund Advisors LP grew its stake in Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Grindr during the second quarter valued at $7,904,000. Bank of America Corp DE purchased a new position in Grindr during the second quarter valued at $4,758,000. Finally, Emmett Investment Management LP bought a new stake in Grindr in the 1st quarter valued at $3,702,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Company Profile

Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.