Grindr Inc. (NYSE:GRND) Director Daniel Brooks Baer Sells 2,435 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) Director Daniel Brooks Baer sold 2,435 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $24.00, for a total value of $58,440.00. Following the completion of the transaction, the director now owns 24,693 shares of the company's stock, valued at $592,632. The trade was a 8.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Daniel Brooks Baer also recently made the following trade(s):

• On Wednesday, May 28th, Daniel Brooks Baer sold 2,000 shares of Grindr stock. The stock was sold at an average price of $23.98, for a total value of $47,960.00.

Grindr Trading Down 5.4%

NYSE:GRND traded down $1.32 during midday trading on Tuesday, reaching $23.41. The company had a trading volume of 2,373,064 shares, compared to its average volume of 1,132,238. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -66.87 and a beta of 0.28. The stock's fifty day simple moving average is $21.17 and its 200-day simple moving average is $18.48. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, sell-side analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Trading of Grindr

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BIT Capital GmbH raised its stake in Grindr by 9.6% in the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock valued at $71,165,000 after buying an additional 349,189 shares in the last quarter. Vanguard Group Inc. raised its stake in Grindr by 23.5% in the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company's stock valued at $30,690,000 after buying an additional 325,996 shares in the last quarter. Nuveen LLC acquired a new stake in Grindr in the first quarter valued at $20,049,000. Marshall Wace LLP raised its stake in Grindr by 85.2% in the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after buying an additional 513,770 shares in the last quarter. Finally, Bwcp LP raised its stake in Grindr by 61.8% in the first quarter. Bwcp LP now owns 1,096,586 shares of the company's stock valued at $19,629,000 after buying an additional 418,994 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GRND has been the subject of several research analyst reports. Raymond James restated an "outperform" rating and set a $26.00 price target (up from $22.00) on shares of Grindr in a research report on Friday, May 9th. The Goldman Sachs Group raised their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, JMP Securities restated a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research report on Monday, April 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Grindr currently has an average 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.