Zachary Katz Sells 7,645 Shares of Grindr (NYSE:GRND) Stock

Key Points

• Zachary Katz sold 7,645 shares of Grindr stock on October 13th for an average price of $12.83, reducing his ownership by 1.38%.
• Grindr's stock price decreased by 0.1% to $12.73, with a market capitalization of $2.44 billion and a PE ratio of -28.92.
• The company reported a 26.6% year-over-year revenue increase but missed EPS and revenue expectations in its last quarterly earnings announcement.

Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 7,645 shares of the company's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $12.83, for a total transaction of $98,085.35. Following the completion of the transaction, the insider owned 548,339 shares of the company's stock, valued at $7,035,189.37. This trade represents a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Zachary Katz also recently made the following trade(s):

• On Monday, September 15th, Zachary Katz sold 7,644 shares of Grindr stock. The shares were sold at an average price of $15.64, for a total value of $119,552.16.
• On Thursday, July 24th, Zachary Katz sold 14,693 shares of Grindr stock. The stock was sold at an average price of $19.25, for a total value of $282,840.25.

Grindr Stock Down 0.1%

Shares of NYSE:GRND traded down $0.02 during trading on Wednesday, hitting $12.73. The stock had a trading volume of 4,203,821 shares, compared to its average volume of 1,933,081. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The firm's fifty day moving average is $15.45 and its 200 day moving average is $19.27. The company has a market capitalization of $2.44 billion, a PE ratio of -28.92 and a beta of 0.23. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13.

Grindr (NYSE:GRND - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $104.00 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) EPS. Analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

GRND has been the subject of a number of research reports. Citizens Jmp started coverage on shares of Grindr in a research note on Monday, June 30th. They set an "outperform" rating and a $27.00 target price for the company. 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 report on Friday, August 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Grindr in a report on Wednesday, October 8th. Wall Street Zen upgraded Grindr from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. Finally, JMP Securities reduced 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 note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Grindr currently has a consensus rating of "Moderate Buy" and an average target price of $22.60.

Institutional Trading of Grindr

Several large investors have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after purchasing an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock valued at $34,000 after buying an additional 1,385 shares during the period. GAMMA Investing LLC raised 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 valued at $38,000 after purchasing an additional 662 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grindr during the 2nd quarter worth about $39,000. Finally, Huntington National Bank purchased a new position in shares of Grindr in the 2nd quarter valued at $64,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

About Grindr

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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