Zachary Katz Sells 12,979 Shares of Grindr (NYSE:GRND) Stock

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) insider Zachary Katz sold 12,979 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $17.89, for a total transaction of $232,194.31. Following the completion of the sale, the insider directly owned 690,172 shares in the company, valued at approximately $12,347,177.08. This represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Wednesday, July 1st, Zachary Katz sold 12,800 shares of Grindr stock. The stock was sold at an average price of $16.28, for a total value of $208,384.00.
  • On Monday, June 29th, Zachary Katz sold 12,799 shares of Grindr stock. The stock was sold at an average price of $14.65, for a total value of $187,505.35.
  • On Wednesday, June 17th, Zachary Katz sold 10,172 shares of Grindr stock. The stock was sold at an average price of $13.29, for a total value of $135,185.88.

Grindr Trading Down 1.3%

Shares of NYSE GRND traded down $0.23 during trading on Wednesday, reaching $17.71. The company had a trading volume of 1,819,975 shares, compared to its average volume of 1,580,443. The company’s fifty day moving average price is $14.28 and its 200-day moving average price is $12.94. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $18.69. The stock has a market cap of $3.15 billion, a P/E ratio of 36.89 and a beta of 0.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 442.30.

Grindr (NYSE:GRND – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $129.94 million during the quarter, compared to the consensus estimate of $119.42 million. Grindr had a return on equity of 123.31% and a net margin of 19.85%. As a group, research analysts expect that Grindr Inc. will post 0.59 earnings per share for the current year.

Institutional Trading of Grindr

Hedge funds have recently modified their holdings of the stock. Emmett Investment Management LP acquired a new stake in Grindr in the first quarter worth $3,702,000. SPX Gestao de Recursos Ltda boosted its position in shares of Grindr by 13.4% during the 1st quarter. SPX Gestao de Recursos Ltda now owns 455,800 shares of the company’s stock worth $5,511,000 after purchasing an additional 54,000 shares in the last quarter. Tikvah Management LLC acquired a new stake in shares of Grindr in the 4th quarter valued at about $10,964,000. Los Angeles Capital Management LLC grew its stake in shares of Grindr by 141.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 129,319 shares of the company’s stock valued at $1,796,000 after buying an additional 75,704 shares during the period. Finally, Norges Bank bought a new stake in Grindr in the 4th quarter valued at about $27,441,000. Institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GRND. Weiss Ratings raised shares of Grindr from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen restated a “buy” rating on shares of Grindr in a report on Monday, June 1st. Morgan Stanley upgraded Grindr from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $15.00 to $18.00 in a report on Wednesday, July 1st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of Grindr in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.20.

Read Our Latest Stock Analysis on GRND

About Grindr

(Get Free Report)

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.

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