Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz Sells 56,611 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) CFO Vandana Mehta-Krantz sold 56,611 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $23.47, for a total value of $1,328,660.17. Following the completion of the sale, the chief financial officer now directly owns 752,594 shares in the company, valued at $17,663,381.18. This represents a 7.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Grindr Trading Down 0.2%

NYSE GRND traded down $0.04 on Wednesday, hitting $22.98. 1,866,514 shares of the company were exchanged, compared to its average volume of 1,748,041. The company's 50 day moving average price is $22.38 and its 200-day moving average price is $19.09. The firm has a market capitalization of $4.50 billion, a P/E ratio of -35.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.22 and a quick ratio of 4.22. Grindr Inc. has a twelve month low of $9.42 and a twelve month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. Analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Grindr

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its position in Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after purchasing an additional 459 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Grindr by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares during the period. Russell Investments Group Ltd. grew its holdings 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 valued at $47,000 after acquiring an additional 642 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 acquiring an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GRND. Wall Street Zen raised Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price objective (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. JMP Securities reissued a "market outperform" rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. 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 report on Monday, May 12th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $23.25.

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.

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