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 Grindr stock in a transaction on Friday, May 30th. The stock was sold at an average price of $24.33, for a total value of $6,089,799.00. Following the sale, the director now owns 6,340,659 shares in the company, valued at $154,268,233.47. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Grindr Trading Up 0.9%

NYSE GRND traded up $0.22 on Thursday, hitting $23.25. The company's stock had a trading volume of 1,508,873 shares, compared to its average volume of 1,139,336. The firm has a market cap of $4.55 billion, a P/E ratio of -66.41 and a beta of 0.28. The company's 50-day simple moving average is $21.38 and its 200 day simple moving average is $18.55. Grindr Inc. has a 52-week low of $8.95 and a 52-week 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 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. On average, research analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRND. Nuveen LLC bought a new position in Grindr during the 1st quarter valued at approximately $20,049,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Grindr during the 1st quarter worth $14,320,000. Bwcp LP purchased a new position in shares of Grindr during the 4th quarter valued at about $12,088,000. Sellaronda Global Management LP bought a new stake in shares of Grindr during the 4th quarter valued at $10,704,000. Finally, Marshall Wace LLP raised its holdings in Grindr by 85.2% during the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after acquiring an additional 513,770 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GRND. JMP Securities reiterated a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Raymond James reaffirmed an "outperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. The Goldman Sachs Group increased their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Five equities research 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, the stock currently has a consensus rating of "Buy" and an average 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.