Insider Selling: Grindr (NYSE:GRND) Director Sells 150,000 Shares of Stock

Key Points

• Grindr director George Zage III sold 150,000 shares at an average price of $13.87, generating approximately $2.08 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 2.21% to 6.63 million shares.
• Zage has made several additional sales since mid-September, totaling more than 1.3 million shares, while Grindr stock recently traded near $14.06—below its 12-month high of $18.50.
• Analyst sentiment remains generally positive, with six Buy ratings and one Hold rating and an average price target of $20. Grindr exceeded revenue expectations in its latest quarter but missed consensus EPS estimates.

Grindr Inc. (NYSE:GRND - Get Free Report) Director George Zage III sold 150,000 shares of the firm's stock in a transaction on Monday, October 19th. The shares were sold at an average price of $13.87, for a total value of $2,080,500.00. Following the completion of the sale, the director directly owned 6,627,743 shares in the company, valued at approximately $91,926,795.41. This represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, 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 16th, George Zage III sold 350,000 shares of Grindr stock. The shares were sold at an average price of $14.23, for a total value of $4,980,500.00.
• On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $3,989,485.50.
• On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The stock was sold at an average price of $14.17, for a total value of $2,943,534.10.
• 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 value 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 value of $5,210,832.00.

Grindr Price Performance

NYSE:GRND traded down $0.05 during trading hours on Tuesday, hitting $14.06. The company's stock had a trading volume of 1,501,510 shares, compared to its average volume of 1,588,991. Grindr Inc. has a twelve month low of $9.73 and a twelve 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. The stock has a fifty day simple moving average of $15.33 and a 200-day simple moving average of $14.42. The company has a market capitalization of $2.44 billion, a P/E ratio of 28.12 and a beta of 0.19.

Grindr (NYSE:GRND - Get Free Report) last issued its 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 business 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, analysts anticipate that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $19.00 target price on shares of Grindr in a research note on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating on shares of Grindr in a report on Tuesday, September 8th. Raymond James Financial reiterated an "outperform" rating on shares of Grindr in a research note on Friday, August 7th. Finally, Citigroup reissued a "market outperform" rating on shares of Grindr in a report on Thursday, October 1st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Grindr has an average rating of "Moderate Buy" and an average target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Emmett Investment Management LP bought a new position in Grindr in the 1st quarter valued at approximately $3,702,000. Canada Pension Plan Investment Board bought a new stake in Grindr during the 2nd quarter worth approximately $1,631,000. Tikvah Management LLC grew its holdings 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 acquiring an additional 109,100 shares during the last quarter. Quantinno Capital Management LP increased its position in Grindr by 194.0% in the 1st quarter. Quantinno Capital Management LP now owns 117,998 shares of the company's stock valued at $1,427,000 after acquiring an additional 77,867 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Grindr during the second quarter valued at $1,975,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Grindr Company Profile

Grindr Inc NYSE: GRND operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.

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