Grindr (NYSE:GRND) Director George Raymond Zage III Sells 150,000 Shares of Stock

Grindr Inc. (NYSE:GRND) Director George Zage III sold 150,000 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $13.87, for a total transaction of $2,080,500.00. Following the completion of the transaction, the director owned 6,627,743 shares of the company’s stock, valued at $91,926,795.41. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 16th, George Zage III sold 350,000 shares of Grindr stock. The shares were sold at an average price of $14.23, for a total transaction of $4,980,500.00.
• On Friday, October 2nd, George Zage III sold 292,270 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $3,989,485.50.
• On Thursday, October 1st, George Zage III sold 207,730 shares of Grindr stock. The stock was sold at an average price of $14.17, for a total value of $2,943,534.10.
• On Thursday, September 17th, George Zage III sold 166,400 shares of Grindr stock. The stock was sold at an average price of $15.41, for a total value of $2,564,224.00.
• On Wednesday, September 16th, George Zage III sold 333,600 shares of Grindr stock. The stock was sold at an average price of $15.62, for a total value of $5,210,832.00.

Grindr Stock Performance

Shares of NYSE GRND opened at $14.06 on Wednesday. The stock has a fifty day moving average price of $15.28 and a two-hundred day moving average price of $14.44. The company has a debt-to-equity ratio of 442.30, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $2.44 billion, a P/E ratio of 28.12 and a beta of 0.19. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $18.50.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). Grindr had a net margin of 18.75% and a return on equity of 357.13%. The firm had revenue of $138.14 million for the quarter, compared to analyst estimates of $132.50 million. Research analysts forecast that Grindr Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GRND. Citigroup reaffirmed a “market outperform” rating on shares of Grindr in a research note on Thursday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Grindr in a research report on Friday, August 7th. Raymond James Financial reiterated an “outperform” rating on shares of Grindr in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $19.00 price target on shares of Grindr in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Institutional Trading of Grindr

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Grindr in the second quarter worth approximately $49,159,000. Tikvah Management LLC increased its holdings in shares of Grindr by 8.1% in the second quarter. Tikvah Management LLC now owns 1,463,720 shares of the company’s stock valued at $21,034,000 after buying an additional 109,100 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Grindr by 77.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock valued at $16,881,000 after acquiring an additional 610,111 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Grindr during the 2nd quarter valued at $7,904,000. Finally, SPX Gestao de Recursos Ltda boosted its stake in shares of Grindr by 13.4% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock worth $5,511,000 after acquiring an additional 54,000 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors.

About Grindr

Grindr Inc (NYSE:GRND) operates a social networking and dating platform designed primarily for the LGBTQ+ community. Its mobile application helps users discover and connect with people nearby, communicate through messaging, and build social and dating relationships.

The company offers a free, advertising-supported version of its app along with subscription services that provide additional features, including expanded browsing and communication capabilities. Grindr also provides related digital products and services intended to support user interaction and engagement on its platform.

Founded in 2009, Grindr serves users in markets around the world and has developed one of the largest global LGBTQ+ social networking communities.