Grindr Inc. (NYSE:GRND) Director Sells $12,680.00 in Stock

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

Grindr Trading Up 0.2 %

Shares of GRND stock traded up $0.03 on Wednesday, reaching $12.83. 239,780 shares of the stock were exchanged, compared to its average volume of 523,846. Grindr Inc. has a twelve month low of $5.71 and a twelve month high of $13.25. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -71.11 and a beta of 0.35. The business’s 50 day moving average price is $12.02 and its 200 day moving average price is $11.03.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $77.40 million. Equities research analysts forecast that Grindr Inc. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Grindr in a research report on Monday, July 15th. Raymond James lifted their target price 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, TD Cowen raised their price target on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its holdings in shares of Grindr by 124.0% in the second quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after purchasing an additional 347,626 shares during the period. Federated Hermes Inc. purchased a new position in Grindr in the 2nd quarter valued at $3,640,000. Discovery Capital Management LLC CT acquired a new position in Grindr in the 2nd quarter valued at $3,179,000. Yarra Square Partners LP purchased a new position in Grindr during the 2nd quarter worth $3,005,000. Finally, Squarepoint Ops LLC lifted its stake in shares of Grindr by 264.4% in the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after acquiring an additional 189,237 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.