Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells 19,432 Shares of Stock

Grindr Inc. (NYSE:GRND - Get Free Report) Director J Michael Gearon, Jr. sold 19,432 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $24.75, for a total value of $480,942.00. Following the transaction, the director now owns 5,480,568 shares of the company's stock, valued at $135,644,058. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Grindr Trading Up 0.3%

NYSE:GRND traded up $0.08 during trading hours on Friday, reaching $23.34. The company had a trading volume of 1,795,175 shares, compared to its average volume of 1,146,303. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $25.13. The firm's 50 day moving average price is $21.49 and its 200-day moving average price is $18.61. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -66.67 and a beta of 0.31.

Grindr (NYSE:GRND - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GRND shares. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group raised their price objective on Grindr from $20.00 to $26.00 and gave the company a "buy" rating in a report on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 target price on shares of Grindr in a report on Monday, April 21st. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Raymond James reissued an "outperform" rating and set a $26.00 price objective (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $23.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd boosted its position in 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 acquiring an additional 459 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 662 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Grindr by 2.7% during the 1st 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. Hedge funds and other institutional investors own 7.22% of the company's stock.

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.