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

Key Points

• Grindr Inc. CFO Vandana Mehta-Krantz sold 43,565 shares of the company's stock for a total of $735,812.85, reducing her ownership stake by 5.95%.
• The company's stock has fluctuated between a 52-week low of $11.39 and a high of $25.13, and recently traded at $16.26, which is down $0.18.
• Grindr reported earnings per share (EPS) of $0.08 for its recent quarter, falling short of analysts' expectations, while revenue increased by 26.6% year-over-year.

Grindr Inc. (NYSE:GRND - Get Free Report) CFO Vandana Mehta-Krantz sold 43,565 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.89, for a total value of $735,812.85. Following the sale, the chief financial officer owned 688,047 shares of the company's stock, valued at $11,621,113.83. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 shares were sold at an average price of $22.18, for a total value 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 value of $1,328,660.17.

Grindr Price Performance

Shares of GRND traded up $0.36 during trading hours on Monday, reaching $16.93. The company had a trading volume of 431,132 shares, compared to its average volume of 1,815,817. The firm has a 50 day simple moving average of $20.44 and a 200-day simple moving average of $20.01. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -38.32 and a beta of 0.25. Grindr Inc. has a 12-month low of $11.39 and a 12-month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $104.00 million for the quarter, compared to analyst estimates of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%. The business's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) earnings per share. Research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of GRND. CWM LLC boosted its stake in shares of Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after purchasing an additional 1,385 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after purchasing an additional 662 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grindr during the 2nd quarter worth about $39,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRND has been the topic of a number of recent analyst reports. Raymond James Financial lowered their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a report on Sunday. Citizens Jmp began coverage on Grindr in a research report on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price for the company. JMP Securities decreased their price objective on 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, The Goldman Sachs Group increased their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.60.

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.