Nathan Richardson Sells 1,500 Shares of Grindr (NYSE:GRND) Stock
by Tristan Rich · The Markets DailyGrindr Inc. (NYSE:GRND – Get Free Report) Director Nathan Richardson sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $12.17, for a total value of $18,255.00. Following the completion of the transaction, the director directly owned 9,833 shares of the company’s stock, valued at $119,667.61. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Nathan Richardson also recently made the following trade(s):
- On Monday, February 2nd, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $11.18, for a total transaction of $16,770.00.
Grindr Stock Up 0.2%
GRND opened at $12.17 on Friday. Grindr Inc. has a one year low of $9.73 and a one year high of $25.13. The company has a debt-to-equity ratio of 8.00, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $2.25 billion, a P/E ratio of 28.31 and a beta of 0.21. The business’s 50-day simple moving average is $11.50 and its 200-day simple moving average is $12.91.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Grindr from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. TD Cowen decreased their price target on Grindr from $26.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Weiss Ratings upgraded shares of Grindr from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, March 4th. Finally, Morgan Stanley assumed coverage on shares of Grindr in a report on Tuesday, February 24th. They issued an “equal weight” rating and a $14.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Grindr has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.
Read Our Latest Stock Report on GRND
Institutional Trading of Grindr
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Grindr by 2.7% in the first 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in Grindr by 8.0% in 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 Grindr by 69.9% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,983 shares of the company’s stock worth $40,000 after buying an additional 1,227 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of Grindr by 2.6% in the fourth quarter. Vident Advisory LLC now owns 50,616 shares of the company’s stock worth $685,000 after acquiring an additional 1,271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 worth $34,000 after acquiring an additional 1,385 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.
Grindr Company Profile
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.