George Raymond Zage III Sells 166,400 Shares of Grindr (NYSE:GRND) Stock

Key Points

• Grindr director George Zage III sold 166,400 shares for approximately $2.56 million under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 2.13%; he also sold 333,600 shares the previous day.
• GRND shares slipped 0.3% to $15.40, with the company valued at approximately $2.68 billion. Grindr’s latest quarterly earnings missed analyst expectations, although revenue exceeded forecasts.
• Institutional ownership stands at 7.22%, while analysts maintain a generally positive view: five rate the stock Buy and one Hold, producing a “Moderate Buy” consensus and a $20 average price target.

Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 166,400 shares of the firm's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.41, for a total transaction of $2,564,224.00. Following the completion of the transaction, the director directly owned 7,627,743 shares in the company, valued at $117,543,519.63. This represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

George Raymond Zage III also recently made the following trade(s):

• On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The shares were sold at an average price of $15.62, for a total transaction of $5,210,832.00.

Grindr Trading Down 0.3%

GRND stock traded down $0.05 during mid-day trading on Friday, reaching $15.40. The company had a trading volume of 2,329,044 shares, compared to its average volume of 1,555,243. The company has a market capitalization of $2.68 billion, a PE ratio of 30.81 and a beta of 0.19. The firm has a 50 day moving average of $15.85 and a 200 day moving average of $13.98. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.50. The company has a debt-to-equity ratio of 442.30, a current ratio of 1.10 and a quick ratio of 1.10.

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

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Grindr during the 2nd quarter worth $49,159,000. Norges Bank purchased a new stake in Grindr in the fourth quarter valued at about $27,441,000. Tikvah Management LLC acquired a new stake in Grindr in the fourth quarter worth about $10,964,000. Dimensional Fund Advisors LP boosted its holdings in Grindr by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock worth $16,881,000 after acquiring an additional 610,111 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in shares of Grindr during the second quarter worth about $7,904,000. Institutional investors own 7.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GRND. TD Cowen reaffirmed a "buy" rating on shares of Grindr in a research report on Monday, June 1st. Raymond James Financial restated an "outperform" rating on shares of Grindr in a research note on Friday, August 7th. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of Grindr in a research note on Tuesday, September 8th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $19.00 target price on shares of Grindr in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Grindr presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Grindr Company Profile

Grindr Inc operates a global social networking and online dating platform designed primarily for LGBTQ+ adults. Its mobile application helps users discover, connect and communicate with people nearby and in other locations, supporting social interaction, dating and community engagement.

The company generates revenue through subscription offerings, in-app purchases and advertising. Its products and services include enhanced app features, messaging and discovery tools, and digital experiences intended to provide users with greater control over how they connect and interact on the platform.

Grindr was founded in 2009 by Joel Simkhai and has expanded its service internationally, with users in markets across North America, Europe, Latin America, Asia-Pacific and other regions.

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