Grindr Inc. (NYSE:GRND) CEO Sells $29,310.00 in Stock

Grindr Inc. (NYSE:GRND) CEO George Arison sold 2,931 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total transaction of $29,310.00. Following the completion of the transaction, the chief executive officer now owns 3,022,666 shares in the company, valued at approximately $30,226,660. The sale was disclosed in a legal filing with the SEC, which is available through this link.

George Arison also recently made the following trade(s):

• On Monday, June 17th, George Arison sold 83,639 shares of Grindr stock. The stock was sold at an average price of $10.15, for a total value of $848,935.85.

Grindr Stock Performance

Shares of GRND traded up $0.47 during mid-day trading on Thursday, reaching $12.29. The company’s stock had a trading volume of 2,976,751 shares, compared to its average volume of 499,399. The business has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $9.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 13.21. The stock has a market cap of $2.16 billion, a P/E ratio of -68.50 and a beta of 0.28. Grindr Inc. has a 1-year low of $4.49 and a 1-year high of $12.41.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. The business had revenue of $75.35 million during the quarter, compared to the consensus estimate of $72.60 million. During the same period in the prior year, the company earned ($0.19) EPS.

Wall Street Analyst Weigh In

GRND has been the subject of a number of research analyst reports. Raymond James increased their target price on Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen boosted their price target on Grindr from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JMP Securities raised their target price on Grindr from $14.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GRND. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 1,667 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Grindr by 11.7% during 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 during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Grindr during the 1st quarter valued at $209,000. GSA Capital Partners LLP purchased a new position in shares of Grindr during the 1st quarter valued at about $545,000. Finally, Jump Financial LLC purchased a new stake in Grindr during the 4th quarter valued at approximately $617,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

About Grindr

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.