Grindr Inc. (NYSE:GRND) CFO Sells $465,380.76 in Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 20,982 shares of Grindr stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $22.18, for a total value of $465,380.76. Following the transaction, the chief financial officer now owns 731,612 shares in the company, valued at approximately $16,227,154.16. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Vandana Mehta-Krantz also recently made the following trade(s):

• On Monday, June 16th, Vandana Mehta-Krantz sold 56,611 shares of Grindr stock. The shares were sold at an average price of $23.47, for a total value of $1,328,660.17.

Grindr Trading Down 1.0%

Shares of GRND opened at $22.19 on Friday. The business’s 50-day moving average price is $22.99 and its 200 day moving average price is $19.45. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $4.35 billion, a P/E ratio of -34.13 and a beta of 0.31. Grindr Inc. has a 1-year low of $10.26 and a 1-year high of $25.13.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 26.04% and a positive return on equity of 219.47%. Analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRND. BIT Capital GmbH lifted its holdings in shares of Grindr by 9.6% in the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company’s stock valued at $71,165,000 after purchasing an additional 349,189 shares in the last quarter. Vanguard Group Inc. raised its position in Grindr by 23.5% during the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company’s stock valued at $30,690,000 after buying an additional 325,996 shares during the period. Nuveen LLC purchased a new stake in Grindr in the 1st quarter worth about $20,049,000. Marshall Wace LLP boosted its position in Grindr by 85.2% during the 4th quarter. Marshall Wace LLP now owns 1,117,053 shares of the company’s stock worth $19,928,000 after acquiring an additional 513,770 shares during the period. Finally, Bwcp LP grew its stake in Grindr by 61.8% during the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock valued at $19,629,000 after acquiring an additional 418,994 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GRND shares. Wall Street Zen raised Grindr from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James Financial reissued an “outperform” rating and set a $26.00 target price (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. The Goldman Sachs Group raised their target price on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Grindr in a report on Monday, April 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Grindr currently has an average rating of “Buy” and a consensus target price of $23.25.

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.