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

Key Points

• Director Nathan Richardson sold 1,000 shares of Grindr stock on October 14th for a total of $13,500, reducing his ownership by 4.92%.
• Grindr's stock has shown significant price fluctuations, with a high of $25.13 and a low of $11.73 over the past year, currently trading at $12.73.
• Analysts have mixed opinions on Grindr, with five giving it a Buy rating and one a Sell rating, leading to an average target price of $22.60.

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of Grindr stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $13.50, for a total transaction of $13,500.00. Following the completion of the sale, the director owned 19,318 shares of the company's stock, valued at approximately $260,793. The trade was a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, September 15th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $16.19, for a total transaction of $16,190.00.
• On Thursday, August 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $16.27, for a total transaction of $16,270.00.

Grindr Price Performance

GRND traded down $0.02 during trading on Wednesday, hitting $12.73. 4,203,821 shares of the stock traded hands, compared to its average volume of 1,933,081. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -28.92 and a beta of 0.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48. The business has a 50 day moving average price of $15.45 and a 200 day moving average price of $19.27.

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 for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The business's quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. Equities research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

Large investors have recently modified their holdings of the stock. XTX Topco Ltd boosted its holdings in Grindr by 2.8% in the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company's stock valued at $305,000 after purchasing an additional 459 shares during the period. CWM LLC raised its position in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company's stock worth $56,000 after purchasing an additional 552 shares during the period. GAMMA Investing LLC increased its position 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 acquiring an additional 662 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company's stock valued at $517,000 after acquiring an additional 762 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in shares of Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company's stock valued at $77,000 after acquiring an additional 1,002 shares during the period. Hedge funds and other institutional investors own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the topic of several analyst reports. Raymond James Financial reduced their price objective on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citizens Jmp initiated coverage on shares of Grindr in a research note on Monday, June 30th. They issued an "outperform" rating and a $27.00 price objective on the stock. Wall Street Zen raised shares of Grindr from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Grindr in a research note on Wednesday, October 8th. Finally, JMP Securities cut their price target on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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