Insider Selling: Grindr (NYSE:GRND) Insider Sells $208,384.00 in Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 12,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $16.28, for a total value of $208,384.00. Following the completion of the sale, the insider directly owned 713,323 shares in the company, valued at $11,612,898.44. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 29th, Zachary Katz sold 12,799 shares of Grindr stock. The shares were sold at an average price of $14.65, for a total value of $187,505.35.
• On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The stock was sold at an average price of $13.29, for a total transaction of $135,185.88.

Grindr Trading Up 0.2%

Shares of GRND stock opened at $16.09 on Friday. Grindr Inc. has a 1 year low of $9.73 and a 1 year high of $22.73. The firm’s fifty day simple moving average is $13.21 and its 200 day simple moving average is $12.54. The firm has a market capitalization of $2.86 billion, a P/E ratio of 33.51 and a beta of 0.22. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 442.30.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. Grindr had a net margin of 19.85% and a return on equity of 123.31%. As a group, sell-side analysts predict that Grindr Inc. will post 0.59 EPS for the current year.

Institutional Investors Weigh In On Grindr

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Grindr by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock valued at $34,430,000 after purchasing an additional 9,952 shares during the last quarter. Norges Bank bought a new stake in Grindr during the fourth quarter worth about $27,441,000. Quinn Opportunity Partners LLC acquired a new stake in shares of Grindr during the fourth quarter worth approximately $20,565,000. Dimensional Fund Advisors LP increased its holdings in shares of Grindr by 77.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,396,122 shares of the company’s stock worth $16,881,000 after buying an additional 610,111 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after acquiring an additional 1,058,084 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GRND. Weiss Ratings raised Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Morgan Stanley raised Grindr from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $15.00 to $18.00 in a report on Wednesday. TD Cowen reissued a “buy” rating on shares of Grindr in a report on Monday, June 1st. Wall Street Zen upgraded Grindr from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Raymond James Financial restated an “outperform” rating and set a $18.00 price objective on shares of Grindr in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Grindr has an average rating of “Moderate Buy” and an average price target of $19.20.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.