Grindr Inc. (NYSE:GRND) Director J Michael Gearon, Jr. Sells 174,858 Shares

Grindr Inc. (NYSE:GRND) Director J Michael Gearon, Jr. sold 174,858 shares of Grindr stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $23.82, for a total transaction of $4,165,117.56. Following the completion of the transaction, the director now owns 6,590,959 shares in the company, valued at $156,996,643.38. This trade represents a 2.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Grindr Stock Performance

Shares of Grindr stock opened at $24.40 on Friday. The firm’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $18.38. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $25.08. The firm has a market cap of $4.78 billion, a P/E ratio of -69.71 and a beta of 0.28.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Grindr

Several institutional investors have recently made changes to their positions in GRND. R Squared Ltd acquired a new stake in shares of Grindr during the 4th quarter valued at about $101,000. Bleakley Financial Group LLC boosted its position in shares of Grindr by 5.6% during the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company’s stock valued at $512,000 after acquiring an additional 1,524 shares in the last quarter. Savant Capital LLC lifted its holdings in Grindr by 9.6% during the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company’s stock valued at $345,000 after purchasing an additional 1,689 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Grindr during the 4th quarter valued at about $1,649,000. Finally, Principal Financial Group Inc. lifted its holdings in Grindr by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 33,919 shares of the company’s stock valued at $605,000 after purchasing an additional 3,341 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James reiterated an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Wall Street Zen upgraded shares of Grindr from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group raised their price target on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. JMP Securities restated a “market outperform” rating and issued a $24.00 price target on shares of Grindr in a research report on Monday, April 21st. Finally, Citigroup restated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.