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

Grindr Inc. (NYSE:GRND) CEO George Arison sold 2,931 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $10.00, for a total value of $29,310.00. Following the transaction, the chief executive officer now owns 3,022,666 shares in the company, valued at $30,226,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction of $848,935.85.

Grindr Stock Down 0.4 %

Shares of NYSE:GRND opened at $12.24 on Friday. 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 company’s 50-day moving average price is $9.86 and its 200 day moving average price is $9.35. Grindr Inc. has a fifty-two week low of $4.49 and a fifty-two week high of $12.42.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. The company had revenue of $75.35 million for the quarter, compared to analysts’ expectations of $72.60 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, research analysts predict that Grindr Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Alta Fox Capital Management LLC bought a new stake in shares of Grindr during the third quarter valued at about $1,162,000. New York State Common Retirement Fund increased 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 buying an additional 2,030 shares during the period. Jump Financial LLC bought a new stake in shares of Grindr during the 4th quarter worth about $617,000. Park West Asset Management LLC acquired a new stake in shares of Grindr in the 4th quarter worth approximately $1,652,000. Finally, GSA Capital Partners LLP bought a new position in shares of Grindr in the first quarter valued at approximately $545,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GRND. Raymond James boosted their price objective on shares of Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday. TD Cowen increased their price target on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities boosted their price objective on Grindr from $14.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday.

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.