Grindr (NYSE:GRND) Insider Zachary Katz Sells 12,799 Shares of Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 12,799 shares of Grindr stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $14.65, for a total value of $187,505.35. Following the sale, the insider owned 726,123 shares in the company, valued at $10,637,701.95. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 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 value of $135,185.88.

Grindr Trading Down 0.6%

GRND opened at $14.35 on Wednesday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 29.90 and a beta of 0.24. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $22.73. The business’s 50 day moving average is $13.06 and its two-hundred day moving average is $12.48. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. Grindr had a return on equity of 123.31% and a net margin of 19.85%. On average, research analysts predict that Grindr Inc. will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GRND. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Grindr by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after buying an additional 1,086 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Grindr by 69.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,983 shares of the company’s stock valued at $40,000 after buying an additional 1,227 shares during the period. Vident Advisory LLC lifted its holdings in shares of Grindr by 2.6% in the 4th quarter. Vident Advisory LLC now owns 50,616 shares of the company’s stock valued at $685,000 after buying an additional 1,271 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GRND has been the topic of several research reports. Wall Street Zen raised shares of Grindr to a “hold” rating in a research report on Saturday. Morgan Stanley raised shares of Grindr to an “overweight” rating and set a $18.00 target price for the company in a report on Wednesday. Weiss Ratings upgraded Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Grindr in a research note on Friday, May 8th. Finally, TD Cowen reiterated a “buy” rating on shares of Grindr in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.