Grindr Inc. (NYSE:GRND) Insider Sells $344,821.24 in Stock

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 14,692 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $23.47, for a total transaction of $344,821.24. Following the sale, the insider now directly owns 624,497 shares of the company's stock, valued at approximately $14,656,944.59. This represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Grindr Stock Performance

Shares of NYSE:GRND traded down $0.04 during trading hours on Wednesday, hitting $22.98. The stock had a trading volume of 1,866,514 shares, compared to its average volume of 1,162,176. The stock's fifty day simple moving average is $22.38 and its 200 day simple moving average is $19.09. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -35.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 4.22 and a current ratio of 4.22. Grindr Inc. has a 1-year low of $9.42 and a 1-year high of $25.13.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GRND. XTX Topco Ltd grew its position in Grindr by 2.8% in the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after buying an additional 459 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 worth $944,000 after buying an additional 623 shares in the last quarter. 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 worth $47,000 after acquiring an additional 642 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after acquiring an additional 662 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $517,000 after acquiring an additional 762 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Grindr

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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