Grindr (NYSE:GRND) Stock: Insider Zachary Katz Sells 15,227 Shares

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 15,227 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $15.23, for a total transaction of $231,907.21. Following the sale, the insider owned 618,000 shares of the company’s stock, valued at $9,412,140. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zachary Katz also recently made the following trade(s):

• On Monday, August 3rd, Zachary Katz sold 12,979 shares of Grindr stock. The shares were sold at an average price of $17.89, for a total value of $232,194.31.

Grindr Stock Performance

Shares of NYSE GRND opened at $14.06 on Friday. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The company has a market cap of $2.44 billion, a P/E ratio of 28.13 and a beta of 0.19. The business’s 50 day moving average is $15.37 and its two-hundred day moving average is $14.39. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30.

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

Analyst Ratings Changes

A number of brokerages have weighed in on GRND. Raymond James Financial reissued an “outperform” rating on shares of Grindr in a report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Grindr in a report on Thursday, October 1st. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley reiterated an “overweight” rating on shares of Grindr in a research note on Tuesday, September 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Grindr in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Grindr in the third quarter valued at $106,000. Versant Capital Management Inc boosted its stake in Grindr by 53.8% during the third quarter. Versant Capital Management Inc now owns 3,825 shares of the company’s stock worth $59,000 after buying an additional 1,338 shares in the last quarter. Tikvah Management LLC boosted its stake in Grindr by 8.1% during the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock worth $21,034,000 after buying an additional 109,100 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Grindr during the second quarter worth $1,975,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Grindr in the 2nd quarter valued at $277,000. 7.22% of the stock is currently owned by institutional investors.

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.