George Raymond Zage III Sells 333,600 Shares of Grindr (NYSE:GRND) Stock

Key Points

• Grindr director George Raymond Zage III sold 333,600 shares for approximately $5.21 million at an average price of $15.62, reducing his position by 4.1%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan; he also sold 166,400 shares the following day.
• Grindr shares recently traded near $15.40, with the company valued at about $2.68 billion. Its latest quarterly revenue of $138.14 million exceeded estimates, but EPS of $0.10 fell short of the $0.16 consensus.
• Analysts maintain a generally positive outlook, with five Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $20.00.

Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 333,600 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $15.62, for a total transaction of $5,210,832.00. Following the sale, the director owned 7,794,143 shares of the company's stock, valued at $121,744,513.66. This trade represents a 4.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The shares were sold at an average price of $15.41, for a total transaction of $2,564,224.00.

Grindr Price Performance

NYSE:GRND traded down $0.05 on Friday, reaching $15.40. The stock had a trading volume of 2,329,044 shares, compared to its average volume of 1,555,243. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 442.30. The company has a market capitalization of $2.68 billion, a P/E ratio of 30.81 and a beta of 0.19. Grindr Inc. has a 1-year low of $9.73 and a 1-year high of $18.50. The stock has a fifty day moving average price of $15.85 and a 200-day moving average price of $13.98.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.06). The firm had revenue of $138.14 million during 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%. Research analysts forecast that Grindr Inc. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Grindr

Several hedge funds and other institutional investors have recently made changes to their positions in GRND. Emmett Investment Management LP acquired a new position in Grindr during the 1st quarter valued at about $3,702,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grindr during the 2nd quarter worth approximately $1,631,000. BlackRock Inc. bought a new stake in shares of Grindr during the second quarter worth approximately $49,159,000. Dimensional Fund Advisors LP raised its stake in shares of Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock worth $16,881,000 after buying an additional 610,111 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Grindr by 194.0% in the first quarter. Quantinno Capital Management LP now owns 117,998 shares of the company's stock valued at $1,427,000 after buying an additional 77,867 shares during the period. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on GRND shares. Raymond James Financial restated an "outperform" rating on shares of Grindr in a report on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating on shares of Grindr in a research report on Tuesday, September 8th. Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a report on Friday, August 7th. The Goldman Sachs Group restated a "buy" rating and issued a $19.00 price objective on shares of Grindr in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Five 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 currently has a consensus rating of "Moderate Buy" and an average price target 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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