Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells 1,000 Shares of Stock

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $21.26, for a total transaction of $21,260.00. Following the completion of the sale, the director directly owned 14,126 shares of the company's stock, valued at $300,318.76. The trade was a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nathan Richardson also recently made the following trade(s):

• On Monday, July 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $21.26, for a total transaction of $21,260.00.
• On Monday, June 16th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $23.45, for a total transaction of $23,450.00.

Grindr Trading Down 3.0%

GRND stock traded down $0.66 during mid-day trading on Wednesday, reaching $21.21. 1,841,866 shares of the stock traded hands, compared to its average volume of 1,208,372. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85. Grindr Inc. has a 52-week low of $10.26 and a 52-week high of $25.13. The company has a market cap of $4.16 billion, a P/E ratio of -32.63 and a beta of 0.28. The stock's fifty day moving average is $23.12 and its 200-day moving average is $19.88.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. As a group, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Grindr

Several institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd boosted its holdings in shares of Grindr by 2.8% during the first quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock worth $305,000 after purchasing an additional 459 shares during the period. Bank of New York Mellon Corp increased its holdings in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after buying an additional 642 shares during the last quarter. GAMMA Investing LLC increased its holdings in Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock worth $517,000 after buying an additional 762 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GRND shares. The Goldman Sachs Group upped their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities upped their price target on shares of Grindr from $24.00 to $27.00 and gave the company a "market outperform" rating in a report on Monday, June 30th. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Citizens Jmp began coverage on shares of Grindr in a report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price target for the company. Finally, Raymond James Financial reissued an "outperform" rating and issued a $26.00 price target (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $24.60.

About Grindr

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.

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