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

Key Points

• Nathan Richardson, a director at Grindr Inc., sold 1,000 shares of the company on August 14th for a total of $16,270, reducing his position by 4.48% to 21,318 shares.
• Grindr's stock price saw a slight increase of 0.7%, trading at $16.69, while the company reported earnings per share of $0.08, falling short of analysts' estimates by $0.02.
• A modest number of hedge funds have significantly increased their positions in Grindr this year, reflecting growing institutional interest, with 7.22% of the stock currently held by institutional investors.

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $16.27, for a total value of $16,270.00. Following the completion of the sale, the director owned 21,318 shares in the company, valued at approximately $346,843.86. This trade represents a 4.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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.
• 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 value of $23,450.00.

Grindr Stock Up 0.7%

Grindr stock traded up $0.12 during mid-day trading on Monday, reaching $16.69. The stock had a trading volume of 2,267,836 shares, compared to its average volume of 2,329,623. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.48 and a current ratio of 2.48. Grindr Inc. has a fifty-two week low of $11.39 and a fifty-two week high of $25.13. The stock's 50-day simple moving average is $20.31 and its 200-day simple moving average is $20.00. The firm has a market capitalization of $3.20 billion, a PE ratio of -37.93 and a beta of 0.25.

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

Institutional Trading of Grindr

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Grindr in the 2nd quarter worth about $39,000. CWM LLC boosted its holdings in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Grindr by 45.5% in 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Grindr by 31.9% in 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 in the last quarter. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on GRND shares. Citizens Jmp initiated 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. JMP Securities cut their price target on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research note on Sunday. The Goldman Sachs Group lifted their price objective on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Raymond James Financial cut their price objective on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.60.

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.

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