J Michael Gearon, Jr. Sells 250,300 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND - Get Free Report) Director J Michael Gearon, Jr. sold 250,300 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $24.33, for a total transaction of $6,089,799.00. Following the transaction, the director now owns 6,340,659 shares in the company, valued at approximately $154,268,233.47. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Grindr Price Performance

Shares of GRND traded up $0.08 during mid-day trading on Friday, reaching $23.34. The company had a trading volume of 1,795,175 shares, compared to its average volume of 1,146,303. The company's 50-day moving average is $21.59 and its 200-day moving average is $18.67. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $25.13. The company has a market capitalization of $4.57 billion, a P/E ratio of -66.67 and a beta of 0.31.

Grindr (NYSE:GRND - Get Free Report) last posted 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, equities analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GRND. Raymond James reissued an "outperform" rating and set a $26.00 price objective (up from $22.00) on shares of Grindr in a research report on Friday, May 9th. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JMP Securities reissued a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a report on Monday, April 21st. The Goldman Sachs Group upped their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $23.25.

Hedge Funds Weigh In On Grindr

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after acquiring an additional 1,719 shares during the period. GAMMA Investing LLC grew its stake in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares in the last quarter. Russell Investments Group Ltd. lifted its position 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 buying an additional 642 shares in the last quarter. Quarry LP increased its holdings in Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after buying an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Grindr by 511.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock worth $83,000 after buying an additional 3,880 shares during the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.

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.