Grindr Inc. (NYSE:GRND) Director Daniel Brooks Baer Sells 2,000 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) Director Daniel Brooks Baer sold 2,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $23.98, for a total value of $47,960.00. Following the completion of the sale, the director now owns 27,128 shares of the company's stock, valued at $650,529.44. The trade was a 6.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Daniel Brooks Baer also recently made the following trade(s):

• On Thursday, May 29th, Daniel Brooks Baer sold 2,435 shares of Grindr stock. The shares were sold at an average price of $24.00, for a total value of $58,440.00.

Grindr Trading Up 1.2%

Shares of GRND traded up $0.31 during trading hours on Monday, hitting $24.73. 2,099,391 shares of the stock traded hands, compared to its average volume of 1,124,218. The business has a fifty day moving average of $21.17 and a 200-day moving average of $18.48. The firm has a market capitalization of $4.84 billion, a PE ratio of -70.64 and a beta of 0.28. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently modified their holdings of GRND. Nuveen LLC bought a new position in Grindr in the first quarter valued at approximately $20,049,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Grindr in the 1st quarter valued at $14,320,000. Bwcp LP acquired a new position in shares of Grindr in the 4th quarter valued at $12,088,000. Sellaronda Global Management LP bought a new position in shares of Grindr in the 4th quarter worth $10,704,000. Finally, Marshall Wace LLP grew its stake in shares of Grindr by 85.2% during the fourth 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. 7.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

GRND has been the topic of a number of recent research reports. Raymond James restated an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. JMP Securities reiterated a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a report on Monday, April 21st. The Goldman Sachs Group boosted 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. Finally, Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $23.25.

Grindr Company Profile

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.