Grindr (NYSE:GRND) Director Sells $54,775.00 in Stock

Key Points

• Director Daniel Brooks Baer sold 3,500 Grindr shares at an average price of $15.65, generating $54,775. The Rule 10b5-1 transaction reduced his holdings by 6.81% to 47,912 shares.
• Grindr shares fell 0.4% to $15.59, while the company’s latest quarterly results showed revenue of $138.14 million but adjusted EPS of $0.10, below the $0.16 analyst consensus.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold, producing a “Moderate Buy” consensus and an average price target of $20.00.

Grindr Inc. (NYSE:GRND - Get Free Report) Director Daniel Brooks Baer sold 3,500 shares of Grindr stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $15.65, for a total value of $54,775.00. Following the transaction, the director owned 47,912 shares of the company's stock, valued at $749,822.80. The trade was a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grindr Stock Down 0.4%

NYSE GRND traded down $0.07 during trading on Friday, reaching $15.59. 1,040,918 shares of the company's stock were exchanged, compared to its average volume of 1,594,523. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $18.50. The company has a 50 day moving average price of $15.36 and a two-hundred day moving average price of $13.30. The stock has a market cap of $2.71 billion, a P/E ratio of 31.18 and a beta of 0.20.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). The firm had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. Grindr had a return on equity of 357.13% and a net margin of 18.75%. On average, equities research analysts anticipate that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GRND. Morgan Stanley restated an "overweight" rating and set a $20.00 price target on shares of Grindr in a research report on Friday, August 7th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $19.00 price target on shares of Grindr in a research note on Friday, August 7th. TD Cowen reiterated a "buy" rating on shares of Grindr in a research note on Monday, June 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research note on Friday, August 7th. Finally, Wall Street Zen lowered shares of Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

Institutional Investors Weigh In On Grindr

Institutional investors have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of Grindr during the second quarter valued at about $159,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Grindr by 14.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,720 shares of the company's stock valued at $1,289,000 after acquiring an additional 11,296 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Grindr during the 2nd quarter worth $4,758,000. Jupiter Topco LLC purchased a new stake in shares of Grindr in the 2nd quarter valued at $183,000. Finally, PDT Partners LLC acquired a new stake in Grindr in the 2nd quarter worth about $460,000. Institutional investors own 7.22% of the company's stock.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.

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