George Arison Sells 2,931 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) CEO George Arison sold 2,931 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total value of $29,310.00. Following the completion of the sale, the chief executive officer now directly owns 3,022,666 shares of the company’s stock, valued at $30,226,660. The sale was disclosed in a filing with the SEC, which is available at this link.

George Arison also recently made the following trade(s):

• On Monday, June 17th, George Arison sold 83,639 shares of Grindr stock. The stock was sold at an average price of $10.15, for a total transaction of $848,935.85.

Grindr Stock Up 4.0 %

NYSE:GRND traded up $0.47 during trading hours on Thursday, reaching $12.29. The company’s stock had a trading volume of 2,976,751 shares, compared to its average volume of 499,399. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -68.50 and a beta of 0.28. Grindr Inc. has a one year low of $4.49 and a one year high of $12.41. The business’s 50-day moving average is $9.77 and its 200-day moving average is $9.29.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. The business had revenue of $75.35 million for the quarter, compared to analyst estimates of $72.60 million. During the same quarter in the prior year, the firm posted ($0.19) EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on GRND. Raymond James lifted their target price on shares of Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen upped their target price on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities boosted their price target on Grindr from $14.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday.

Hedge Funds Weigh In On Grindr

A number of institutional investors have recently modified their holdings of GRND. Alta Fox Capital Management LLC bought a new stake in shares of Grindr during the 3rd quarter worth $1,162,000. New York State Common Retirement Fund lifted its position in Grindr by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock worth $170,000 after acquiring an additional 2,030 shares during the last quarter. Jump Financial LLC bought a new stake in Grindr during the fourth quarter valued at about $617,000. Park West Asset Management LLC bought a new stake in Grindr during the fourth quarter valued at about $1,652,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Grindr in the first quarter valued at about $545,000. Institutional investors own 7.22% of the company’s stock.

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.