Grindr (NYSE:GRND) Stock: Insider George Raymond Zage III Sells 207,730 Shares

Key Points

• Director George Raymond Zage III sold 207,730 Grindr shares at an average price of $14.17, generating approximately $2.94 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, reducing his stake by 2.72% to 7.42 million shares.
• Grindr shares traded at $13.58, with a market capitalization of about $2.36 billion, after the company reported quarterly EPS of $0.10—below the $0.16 consensus estimate—while revenue of $138.14 million exceeded expectations.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $20.00. Institutional investors own 7.22% of the company.

Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 207,730 shares of Grindr stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $14.17, for a total transaction of $2,943,534.10. Following the completion of the transaction, the director owned 7,420,013 shares of the company's stock, valued at $105,141,584.21. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total transaction of $3,989,485.50.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was sold at an average price of $15.41, for a total transaction of $2,564,224.00.
• 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 Stock Performance

GRND stock traded up $0.15 during midday trading on Monday, reaching $13.58. 1,561,008 shares of the company's stock traded hands, compared to its average volume of 1,578,715. The firm has a market capitalization of $2.36 billion, a PE ratio of 27.15 and a beta of 0.19. The company has a 50-day moving average price of $15.86 and a two-hundred day moving average price of $14.25. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $18.50. 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 (NYSE:GRND - Get Free Report) last announced 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). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The company had revenue of $138.14 million during the quarter, compared to analysts' expectations of $132.50 million. As a group, equities analysts anticipate that Grindr Inc. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in Grindr in the fourth quarter valued at approximately $45,000. Versant Capital Management Inc grew its stake in Grindr by 53.8% in the 3rd quarter. Versant Capital Management Inc now owns 3,825 shares of the company's stock worth $59,000 after buying an additional 1,338 shares in the last quarter. State of Wyoming bought a new position in shares of Grindr in the 2nd quarter worth $83,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Grindr during the 2nd quarter valued at $159,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Grindr during the 2nd quarter valued at $183,000. 7.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Grindr in a research report on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of Grindr in a research note on Tuesday, September 8th. Citigroup reiterated a "market outperform" rating on shares of Grindr in a research note on Thursday. The Goldman Sachs Group reissued a "buy" rating and issued a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Finally, Raymond James Financial restated an "outperform" rating on shares of Grindr in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Grindr presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Grindr Company Profile

Grindr Inc operates a social networking and online dating platform designed primarily for the LGBTQ+ community. Its flagship Grindr app enables users to discover and connect with people nearby, create profiles, exchange messages, share photos, and use location-based features for social and dating purposes.

The company offers a free version of its service supported by advertising, along with paid subscription products that provide additional features, including expanded browsing and messaging capabilities.

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