Grindr Inc. (NYSE:GRND) Insider Zachary Katz Sells 14,692 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 14,692 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $22.48, for a total transaction of $330,276.16. Following the sale, the insider directly owned 609,805 shares in the company, valued at approximately $13,708,416.40. The trade was a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Zachary Katz also recently made the following trade(s):

• On Monday, June 16th, Zachary Katz sold 14,692 shares of Grindr stock. The stock was sold at an average price of $23.47, for a total transaction of $344,821.24.

Grindr Trading Down 0.8%

GRND stock traded down $0.16 during midday trading on Friday, hitting $21.14. The stock had a trading volume of 1,267,444 shares, compared to its average volume of 1,200,800. The firm has a market cap of $4.14 billion, a P/E ratio of -32.52 and a beta of 0.28. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85. Grindr Inc. has a 1-year low of $10.26 and a 1-year high of $25.13. The business has a fifty day moving average price of $23.16 and a two-hundred day moving average price of $19.82.

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 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, sell-side analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JMP Securities lifted their price target on shares of Grindr from $24.00 to $27.00 and gave the stock a "market outperform" rating in a report on Monday, June 30th. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. The Goldman Sachs Group lifted 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, Citizens Jmp began coverage on shares of Grindr in a report on Monday, June 30th. They set an "outperform" rating and a $27.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $24.60.

Hedge Funds Weigh In On Grindr

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in shares of Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after purchasing an additional 1,719 shares during the period. GAMMA Investing LLC raised its holdings in shares of Grindr by 45.5% during the first 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. raised its holdings in shares of Grindr by 31.9% during the fourth 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 raised its holdings in shares of Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of 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 acquiring an additional 3,880 shares in 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.