Grindr (NYSE:GRND) Director Buys $1,080,000.00 in Stock

Grindr Inc. (NYSE:GRND) Director George Raymond Zage III acquired 80,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were purchased at an average price of $13.50 per share, with a total value of $1,080,000.00. Following the transaction, the director owned 8,063,283 shares of the company’s stock, valued at approximately $108,854,320.50. This represents a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

George Raymond Zage III also recently made the following trade(s):

• On Wednesday, December 3rd, George Raymond Zage III bought 75,000 shares of Grindr stock. The stock was purchased at an average price of $13.48 per share, for a total transaction of $1,011,000.00.
• On Tuesday, December 2nd, George Raymond Zage III purchased 100,000 shares of Grindr stock. The shares were purchased at an average price of $12.95 per share, with a total value of $1,295,000.00.
• On Monday, December 1st, George Raymond Zage III acquired 150,000 shares of Grindr stock. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $1,936,500.00.
• On Friday, November 28th, George Raymond Zage III acquired 150,000 shares of Grindr stock. The shares were purchased at an average cost of $12.88 per share, for a total transaction of $1,932,000.00.
• On Thursday, October 9th, George Raymond Zage III bought 1,000,000 shares of Grindr stock. The stock was acquired at an average cost of $13.15 per share, with a total value of $13,150,000.00.

Grindr Price Performance

GRND traded down $0.15 during trading hours on Friday, hitting $13.48. The company’s stock had a trading volume of 1,289,548 shares, compared to its average volume of 1,999,905. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -36.43 and a beta of 0.23. The business’s 50-day moving average price is $13.71 and its 200-day moving average price is $17.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period last year, the company posted $0.09 EPS. The business’s revenue was up 29.6% on a year-over-year basis. Sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GRND. JMP Securities reduced their price objective 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. Citizens Jmp cut their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Grindr in a research report on Monday. Finally, Raymond James Financial cut 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. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd boosted its holdings in Grindr by 2.8% during the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock valued at $305,000 after acquiring an additional 459 shares during the period. CWM LLC grew its holdings in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after purchasing an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $517,000 after purchasing an additional 762 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after buying an additional 1,002 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Grindr by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

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.