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

Key Points

• Grindr Director Nathan Richardson sold 1,000 shares of the company's stock on September 15th for a total of $16,190.00, reducing his ownership by 4.69%.
• The company's stock has seen a 1.2% decline, trading at $15.54, with a market capitalization of $2.98 billion.
• Grindr's quarterly earnings report indicated earnings per share of $0.08, missing estimates of $0.10, while revenue grew by 26.6% year-over-year.

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.19, for a total value of $16,190.00. Following the transaction, the director directly owned 20,318 shares of the company's stock, valued at $328,948.42. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, August 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.27, for a total value of $16,270.00.
• 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 value of $21,260.00.
• 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 value of $21,260.00.

Grindr Price Performance

GRND traded up $0.14 on Friday, reaching $16.00. The stock had a trading volume of 3,492,573 shares, compared to its average volume of 1,808,653. Grindr Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $25.13. The firm has a 50-day moving average of $17.03 and a 200-day moving average of $19.59. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -36.35 and a beta of 0.25.

Grindr (NYSE:GRND - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The firm had revenue of $104.00 million during the quarter, compared to analyst estimates of $104.40 million. During the same period in the previous year, the company earned ($0.13) EPS. Grindr's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GRND shares. JMP Securities lowered their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating for the company in a report on Monday, August 11th. Citizens Jmp assumed coverage on Grindr in a research report on Monday, June 30th. They issued an "outperform" rating and a $27.00 price target on the stock. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Raymond James Financial reduced their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $22.60.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently modified their holdings of GRND. CWM LLC raised its stake in shares of Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after purchasing an additional 1,385 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 662 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Grindr in the second quarter worth approximately $39,000. Finally, Huntington National Bank purchased a new stake in shares of Grindr in the second quarter worth approximately $64,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.