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

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 14,692 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $22.48, for a total value of $330,276.16. Following the completion of the transaction, the insider 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 sale was disclosed in a filing with the SEC, which is available at this link.

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 value of $344,821.24.

Grindr Trading Up 1.4%

Grindr stock traded up $0.31 during trading hours on Wednesday, reaching $22.44. The company had a trading volume of 1,547,876 shares, compared to its average volume of 1,191,162. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.22 and a quick ratio of 4.22. The company has a 50-day moving average price of $23.22 and a 200 day moving average price of $19.77. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -34.52 and a beta of 0.28. Grindr Inc. has a 12-month low of $10.26 and a 12-month high of $25.13.

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 the consensus estimate of $0.09. Grindr had a positive return on equity of 219.47% and a negative net margin of 26.04%. Equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Grindr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRND. CWM LLC increased its position in 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 acquiring an additional 1,719 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 buying an additional 662 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in 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 buying an additional 642 shares during the last quarter. Quarry LP boosted its stake in 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 buying an additional 2,316 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Grindr by 511.9% during 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 last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GRND has been the subject of several recent analyst reports. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JMP Securities lifted their price target on Grindr from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Monday, June 30th. The Goldman Sachs Group lifted their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Citizens Jmp assumed coverage on Grindr in a research note on Monday, June 30th. They set an "outperform" rating and a $27.00 price target for the company. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $24.60.

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.