Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 14,692 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $23.47, for a total value of $344,821.24. Following the sale, the insider now directly owns 624,497 shares in the company, valued at $14,656,944.59. This represents a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Grindr Trading Down 1.3%
Shares of GRND stock traded down $0.30 during mid-day trading on Friday, reaching $22.62. 2,275,396 shares of the stock traded hands, compared to its average volume of 1,173,402. The stock's fifty day simple moving average is $22.68 and its two-hundred day simple moving average is $19.25. Grindr Inc. has a 1-year low of $9.48 and a 1-year high of $25.13. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -34.79 and a beta of 0.31. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.85.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. On average, research analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after buying an additional 1,719 shares during the period. GAMMA Investing LLC lifted 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 valued at $38,000 after purchasing an additional 662 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after purchasing an additional 642 shares during the period. Quarry LP lifted its stake in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after buying an additional 2,316 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Grindr by 511.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after buying an additional 3,880 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GRND. The Goldman Sachs Group increased their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research report on Monday, April 21st. 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 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $23.25.
Read Our Latest Stock Analysis on GRND
About Grindr
(
Get Free Report)
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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