Grindr Inc. (NYSE:GRND) Director Nathan Richardson Sells 1,000 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $21.26, for a total transaction of $21,260.00. Following the completion of the transaction, the director owned 14,126 shares of the company's stock, valued at $300,318.76. This trade represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, July 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were 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 Stock Up 0.1%

Shares of NYSE:GRND traded up $0.01 during midday trading on Friday, reaching $19.95. The company's stock had a trading volume of 1,988,391 shares, compared to its average volume of 1,222,090. The firm has a 50 day moving average of $22.89 and a 200-day moving average of $19.92. The firm has a market capitalization of $3.91 billion, a P/E ratio of -30.69 and a beta of 0.28. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.85. Grindr Inc. has a 12-month low of $10.26 and a 12-month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. On average, research analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Grindr

Institutional investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Grindr in the 1st quarter worth approximately $20,049,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Grindr in the 1st quarter worth approximately $14,320,000. Bwcp LP bought a new position in shares of Grindr in the 4th quarter worth approximately $12,088,000. Sellaronda Global Management LP bought a new position in shares of Grindr in the 4th quarter worth approximately $10,704,000. Finally, Marshall Wace LLP lifted its stake in shares of Grindr by 85.2% in the 4th quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock worth $19,928,000 after purchasing an additional 513,770 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.

Analyst Ratings Changes

GRND has been the topic of several analyst reports. JMP Securities lifted their target price on shares of Grindr from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research note on Monday, June 30th. The Goldman Sachs Group raised their target price on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Citizens Jmp initiated coverage on shares of Grindr in a research report on Monday, June 30th. They issued an "outperform" rating and a $27.00 target price for the company. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 target price (up from $22.00) on shares of Grindr in a research 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average 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.