Grindr (NYSE:GRND) Insider Zachary Katz Sells 15,601 Shares

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) insider Zachary Katz sold 15,601 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $13.73, for a total transaction of $214,201.73. Following the transaction, the insider directly owned 532,738 shares in the company, valued at $7,314,492.74. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Zachary Katz also recently made the following trade(s):

  • On Monday, October 13th, Zachary Katz sold 7,645 shares of Grindr stock. The stock was sold at an average price of $12.83, for a total transaction of $98,085.35.
  • On Monday, September 15th, Zachary Katz sold 7,644 shares of Grindr stock. The shares were sold at an average price of $15.64, for a total transaction of $119,552.16.

Grindr Price Performance

Grindr stock traded down $0.01 during mid-day trading on Wednesday, hitting $13.19. 1,543,302 shares of the company were exchanged, compared to its average volume of 2,003,671. Grindr Inc. has a 1-year low of $11.73 and a 1-year high of $25.13. The business has a fifty day moving average of $14.58 and a 200 day moving average of $18.81. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $2.53 billion, a PE ratio of -29.98 and a beta of 0.22.

Grindr (NYSE:GRND – Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The company had revenue of $104.00 million during the quarter, compared to analyst estimates of $104.40 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GRND. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. JMP Securities cut their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, August 11th. Finally, Raymond James Financial dropped their price target on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.60.

Get Our Latest Stock Report on Grindr

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GRND. Principal Financial Group Inc. raised its holdings in shares of Grindr by 108.1% in the third quarter. Principal Financial Group Inc. now owns 154,345 shares of the company’s stock valued at $2,318,000 after purchasing an additional 80,175 shares during the last quarter. AlphaQuest LLC increased its holdings in Grindr by 94.3% during the 3rd quarter. AlphaQuest LLC now owns 6,745 shares of the company’s stock worth $101,000 after acquiring an additional 3,273 shares during the period. Arizona State Retirement System increased its stake in Grindr by 26.8% in the third quarter. Arizona State Retirement System now owns 11,611 shares of the company’s stock valued at $174,000 after acquiring an additional 2,452 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Grindr by 43.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 115,393 shares of the company’s stock valued at $1,733,000 after purchasing an additional 34,708 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in Grindr in the third quarter valued at approximately $243,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

(Get Free Report)

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.

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