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 company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $22.48, for a total transaction of $330,276.16. Following the completion of the transaction, the insider owned 609,805 shares in the company, valued at $13,708,416.40. This trade represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $23.47, for a total transaction of $344,821.24.

Grindr Price Performance

Shares of GRND traded down $0.14 during midday trading on Wednesday, hitting $21.99. 119,405 shares of the company traded hands, compared to its average volume of 1,183,944. Grindr Inc. has a one year low of $10.26 and a one year high of $25.13. 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 firm has a market cap of $4.31 billion, a P/E ratio of -33.81 and a beta of 0.28. The stock has a 50-day moving average of $23.21 and a 200-day moving average of $19.75.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James Financial reiterated an "outperform" rating and set a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. JMP Securities boosted their price objective on Grindr from $24.00 to $27.00 and gave the company a "market outperform" rating in a research note on Monday, June 30th. Citizens Jmp started coverage on Grindr in a research note on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective on the stock. Finally, 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 note on Monday, May 12th. 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.com, Grindr currently has a consensus rating of "Buy" and a consensus target price of $24.60.

Institutional Investors Weigh In On Grindr

Several institutional investors have recently modified their holdings of GRND. 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 acquiring an additional 1,719 shares during the period. GAMMA Investing LLC raised its stake in shares of Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after buying an additional 642 shares during the period. Quarry LP raised its stake in Grindr by 209.2% during the 4th 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. raised its stake in Grindr by 511.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after purchasing an additional 3,880 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.