Grindr Inc. (NYSE:GRND) Director Nathan Richardson Sells 1,000 Shares

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.68, for a total transaction of $12,680.00. Following the transaction, the director now owns 32,642 shares in the company, valued at $413,900.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Grindr Trading Up 0.2 %

Shares of GRND opened at $12.82 on Thursday. The company’s fifty day moving average is $12.06 and its two-hundred day moving average is $11.04. Grindr Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $13.25.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.07 EPS for the quarter, beating 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. As a group, equities analysts forecast that Grindr Inc. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Grindr

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRND. nVerses Capital LLC acquired a new position in Grindr during the 3rd quarter worth $27,000. Price T Rowe Associates Inc. MD lifted its position 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 purchasing an additional 1,667 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Grindr in the second quarter worth about $136,000. Quest Partners LLC grew its stake in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Grindr in the second quarter valued at about $189,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price target on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Grindr in a research note on Monday, July 15th. Finally, Raymond James increased their price objective on shares of Grindr from $14.00 to $15.00 and gave the company an “outperform” rating in a research note 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.