Insider Selling: Grindr Inc. (NYSE:GRND) Insider Sells 14,693 Shares of Stock

Key Points

• Zachary Katz, an insider at Grindr Inc., sold **14,693 shares** of the company's stock on July 24 at an average price of **$19.25**, totaling approximately **$282,840**.
• The stock of Grindr Inc. has experienced a **2.5% decline**, currently trading at **$17.84**, after reaching a **12-month high** of **$25.13** earlier this year.
• Grindr's stock has received mixed analyst ratings, with firms like **Goldman Sachs** setting price targets as high as **$26**, indicating overall confidence in the stock despite recent price fluctuations.

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 14,693 shares of Grindr stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $19.25, for a total transaction of $282,840.25. Following the completion of the transaction, the insider directly owned 595,112 shares in the company, valued at approximately $11,455,906. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, July 3rd, Zachary Katz sold 14,692 shares of Grindr stock. The shares were sold at an average price of $22.48, for a total transaction of $330,276.16.
• On Monday, June 16th, Zachary Katz sold 14,692 shares of Grindr stock. The shares were sold at an average price of $23.47, for a total transaction of $344,821.24.

Grindr Stock Performance

GRND traded down $0.25 during trading on Friday, reaching $17.23. 454,822 shares of the company's stock were exchanged, compared to its average volume of 1,733,895. Grindr Inc. has a fifty-two week low of $10.26 and a fifty-two week high of $25.13. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $21.93 and a 200 day moving average price of $19.99. The company has a market capitalization of $3.38 billion, a P/E ratio of -26.55 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly 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%. As a group, analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GRND. The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Citizens Jmp began coverage on shares of Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 target price on the stock. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. JMP Securities boosted their target price on shares of Grindr from $24.00 to $27.00 and gave the stock a "market outperform" rating in a research report on Monday, June 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. Five 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 has a consensus rating of "Buy" and an average target price of $24.60.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Grindr in the 1st quarter valued at $197,000. Allspring Global Investments Holdings LLC lifted its position in Grindr by 5.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company's stock worth $1,808,000 after buying an additional 5,265 shares in the last quarter. First Trust Advisors LP lifted its position in Grindr by 11.7% during the 4th quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock worth $1,703,000 after buying an additional 9,968 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Grindr during the 4th quarter worth about $884,000. Finally, GAMMA Investing LLC lifted its position in Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.

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.