Grindr (NYSE:GRND) Director Sells $16,270.00 in 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 company's 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 $346,843.86. This represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, July 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were 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 shares were 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 shares were sold at an average price of $23.45, for a total value of $23,450.00.

Grindr Price Performance

Shares of NYSE:GRND traded up $0.0750 on Friday, hitting $15.8150. The company had a trading volume of 2,042,877 shares, compared to its average volume of 2,433,191. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.43. Grindr Inc. has a 52-week low of $11.39 and a 52-week high of $25.13. The business has a 50 day moving average of $19.72 and a 200 day moving average of $19.92. The company has a market cap of $3.04 billion, a PE ratio of -35.94 and a beta of 0.25.

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

Institutional Investors Weigh In On Grindr

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Grindr in the first quarter valued at about $197,000. Allspring Global Investments Holdings LLC grew its stake in shares of Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company's stock valued at $1,808,000 after buying an additional 5,265 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Grindr by 11.7% in the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock valued at $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 stake in shares of Grindr in the fourth quarter valued at about $884,000. Finally, GAMMA Investing LLC grew 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 valued at $38,000 after buying an additional 662 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GRND. Citizens Jmp began coverage on Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 target price on the stock. JMP Securities reduced their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. The Goldman Sachs Group increased their target price on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wall Street Zen downgraded Grindr from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Raymond James Financial reduced their target price 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.