Nathan Richardson Sells 1,000 Shares of Grindr Inc. (NYSE:GRND) Stock

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) Director Nathan Richardson sold 1,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $12.68, for a total value of $12,680.00. Following the completion of the transaction, the director now directly owns 32,642 shares in the company, valued at $413,900.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Grindr Trading Down 3.9 %

Grindr stock opened at $12.34 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of -28.03 and a beta of 0.35. Grindr Inc. has a 12 month low of $5.71 and a 12 month high of $13.25. The stock’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $11.05.

Grindr (NYSE:GRND – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Grindr had a negative net margin of 25.67% and a negative return on equity of 234.28%. The firm had revenue of $82.35 million for the quarter, compared to the consensus estimate of $77.40 million. On average, equities research analysts forecast that Grindr Inc. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GRND shares. TD Cowen increased their price target on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James upped their price objective on shares of Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Grindr in a report on Monday, July 15th.

View Our Latest Stock Analysis on Grindr

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently modified their holdings of GRND. Price T Rowe Associates Inc. MD boosted its position in Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after buying an additional 2,050 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Grindr during the 3rd quarter worth approximately $27,000. Bleakley Financial Group LLC lifted its position in shares of Grindr by 9.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock valued at $324,000 after buying an additional 2,371 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Grindr by 10.5% in the 3rd quarter. SG Americas Securities LLC now owns 64,816 shares of the company’s stock valued at $773,000 after acquiring an additional 6,168 shares during the period. Hedge funds and other 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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