Grindr (NYSE:GRND) Stock: Insider Zachary Katz Sells 15,227 Shares

Key Points

• Insider sale: Zachary Katz sold 15,227 Grindr shares at an average price of $15.23, totaling $231,907.21. The Rule 10b5-1 transaction reduced his ownership by 2.4% to 618,000 shares.
• Stock performance and earnings: GRND fell 6.9% to $14.06, while its latest quarterly EPS of $0.10 missed estimates of $0.16 despite revenue of $138.14 million exceeding expectations.
• Analyst outlook remains positive: Six analysts rate Grindr Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $20.00.

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 15,227 shares of the company's stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $15.23, for a total value of $231,907.21. Following the sale, the insider owned 618,000 shares of the company's stock, valued at $9,412,140. This trade represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Zachary Katz also recently made the following trade(s):

• On Monday, August 3rd, Zachary Katz sold 12,979 shares of Grindr stock. The shares were sold at an average price of $17.89, for a total value of $232,194.31.

Grindr Stock Down 6.9%

GRND traded down $1.04 on Friday, hitting $14.06. The company had a trading volume of 2,526,833 shares, compared to its average volume of 1,587,990. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 28.13 and a beta of 0.19. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a fifty day moving average price of $15.42 and a 200-day moving average price of $14.40. Grindr Inc. has a 12-month low of $9.73 and a 12-month high of $18.50.

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

Analyst Ratings Changes

Several brokerages have weighed in on GRND. Raymond James Financial restated an "outperform" rating on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of Grindr in a research report on Tuesday, September 8th. Citigroup reiterated a "market outperform" rating on shares of Grindr in a report on Thursday, October 1st. The Goldman Sachs Group reiterated a "buy" rating and set a $19.00 price objective on shares of Grindr in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Grindr in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Grindr presently has an average rating of "Moderate Buy" and an average price target of $20.00.

Hedge Funds Weigh In On Grindr

Several hedge funds have recently modified their holdings of GRND. BlackRock Inc. purchased a new position in shares of Grindr in the 2nd quarter valued at approximately $49,159,000. Tikvah Management LLC grew its position in Grindr by 8.1% during the 2nd quarter. Tikvah Management LLC now owns 1,463,720 shares of the company's stock worth $21,034,000 after purchasing an additional 109,100 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Grindr by 77.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company's stock valued at $16,881,000 after purchasing an additional 610,111 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Grindr during the 2nd quarter valued at approximately $7,904,000. Finally, SPX Gestao de Recursos Ltda increased its stake in Grindr by 13.4% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company's stock valued at $5,511,000 after purchasing an additional 54,000 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.

About Grindr

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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