Grindr Inc. (NYSE:GRND) Director Sells $12,680.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $12.68, for a total value of $12,680.00. Following the transaction, the director now directly owns 32,642 shares in the company, valued at $413,900.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Grindr Stock Up 0.2 %

Shares of Grindr stock traded up $0.03 during trading on Wednesday, hitting $12.83. 239,780 shares of the company were exchanged, compared to its average volume of 523,846. Grindr Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $13.25. The firm has a 50 day moving average price of $12.02 and a 200 day moving average price of $11.03. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -71.11 and a beta of 0.35.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $82.35 million during the quarter, compared to analysts’ expectations of $77.40 million. Grindr had a negative return on equity of 234.28% and a negative net margin of 25.67%. Analysts predict that Grindr Inc. will post 0.25 earnings per share for the current year.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Grindr in the second quarter valued at $718,000. Yarra Square Partners LP acquired a new position in shares of Grindr in the 2nd quarter valued at about $3,005,000. Federated Hermes Inc. acquired a new position in shares of Grindr in the 2nd quarter valued at about $3,640,000. Point72 Asset Management L.P. purchased a new stake in shares of Grindr during the 2nd quarter worth about $688,000. Finally, GSA Capital Partners LLP acquired a new stake in Grindr during the 1st quarter worth approximately $545,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRND has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Raymond James upped their target price on shares of Grindr from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Grindr in a research report on Monday, July 15th.

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.