George Raymond Zage III Purchases 150,000 Shares of Grindr (NYSE:GRND) Stock

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) Director George Raymond Zage III bought 150,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average price of $12.91 per share, for a total transaction of $1,936,500.00. Following the purchase, the director directly owned 1,210,507 shares in the company, valued at approximately $15,627,645.37. The trade was a 14.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

George Raymond Zage III also recently made the following trade(s):

  • On Friday, November 28th, George Raymond Zage III purchased 150,000 shares of Grindr stock. The stock was bought at an average cost of $12.88 per share, for a total transaction of $1,932,000.00.
  • On Thursday, October 9th, George Raymond Zage III acquired 1,000,000 shares of Grindr stock. The shares were acquired at an average cost of $13.15 per share, for a total transaction of $13,150,000.00.

Grindr Stock Performance

Shares of NYSE:GRND traded up $0.11 during trading on Tuesday, hitting $12.96. 970,837 shares of the company were exchanged, compared to its average volume of 1,900,511. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13. The stock has a 50 day moving average of $13.86 and a 200 day moving average of $17.64. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $2.39 billion, a PE ratio of 30.59 and a beta of 0.23.

Grindr (NYSE:GRND – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Grindr’s revenue was up 29.6% on a year-over-year basis. As a group, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on GRND shares. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Citizens Jmp cut their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. JMP Securities dropped their price objective on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Raymond James Financial reduced their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Grindr in a research report on Monday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

View Our Latest Research Report on GRND

Hedge Funds Weigh In On Grindr

Several institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new position in Grindr in the 2nd quarter worth $39,000. Caitong International Asset Management Co. Ltd purchased a new position in Grindr during the third quarter valued at $26,000. CWM LLC lifted its position in Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company’s stock valued at $34,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Huntington National Bank bought a new stake in Grindr during the second quarter valued at about $64,000. Institutional investors own 7.22% of the company’s stock.

About Grindr

(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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