Kye Chen Sells 16,187 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) CAO Kye Chen sold 16,187 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.68, for a total transaction of $189,064.16. Following the transaction, the chief accounting officer now directly owns 138,604 shares in the company, valued at approximately $1,618,894.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Grindr Stock Down 1.1 %

Grindr stock traded down $0.13 on Tuesday, hitting $11.70. The company’s stock had a trading volume of 376,831 shares, compared to its average volume of 517,988. The firm has a market cap of $2.06 billion, a P/E ratio of -64.22 and a beta of 0.35. The company has a fifty day moving average price of $11.78 and a 200-day moving average price of $10.52. Grindr Inc. has a one year low of $5.32 and a one year high of $12.83.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $82.35 million for the quarter, compared to analyst estimates of $77.40 million. Grindr had a negative net margin of 25.67% and a negative return on equity of 234.28%. Analysts anticipate that Grindr Inc. will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Grindr by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after purchasing an additional 1,667 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Grindr in the 2nd quarter valued at $136,000. Quest Partners LLC boosted its stake in shares of Grindr by 9,055.0% in the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after purchasing an additional 12,677 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Grindr by 11.7% in the 4th quarter. New York State Common Retirement Fund now owns 19,365 shares of the company’s stock valued at $170,000 after purchasing an additional 2,030 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Grindr in the 2nd quarter valued at $189,000. Institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

GRND has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Grindr in a research report on Monday, July 15th. TD Cowen boosted their target price on shares of Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James boosted their target price on shares of Grindr from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th.

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.