Grindr Inc. (NYSE:GRND) CEO Sells $848,935.85 in Stock

Grindr Inc. (NYSE:GRND) CEO George Arison sold 83,639 shares of Grindr stock in a transaction on Monday, June 17th. The shares were sold at an average price of $10.15, for a total value of $848,935.85. Following the sale, the chief executive officer now directly owns 3,029,027 shares of the company’s stock, valued at $30,744,624.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Grindr Stock Performance

NYSE GRND opened at $9.92 on Thursday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $9.20. Grindr Inc. has a one year low of $4.49 and a one year high of $11.13.

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 negative net margin of 11.56% and a positive return on equity of 3,761.31%. The business had revenue of $75.35 million for the quarter, compared to analysts’ expectations of $72.60 million. During the same period last year, the business earned ($0.19) EPS.

Institutional Trading of Grindr

A number of institutional investors have recently modified their holdings of GRND. Alta Fox Capital Management LLC bought a new stake in shares of Grindr in the 3rd quarter valued at about $1,162,000. New York State Common Retirement Fund boosted its holdings in shares of Grindr by 11.7% in 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 in the last quarter. Jump Financial LLC bought a new stake in shares of Grindr in the 4th quarter valued at about $617,000. Park West Asset Management LLC bought a new stake in shares of Grindr in the 4th quarter valued at about $1,652,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Grindr in the 1st quarter valued at about $545,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Cowen assumed coverage on shares of Grindr in a research report on Thursday, March 28th. They set a “buy” rating and a $12.00 target price on the stock. Raymond James assumed coverage on shares of Grindr in a research report on Thursday, April 4th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $14.00 target price on shares of Grindr in a research report on Monday, April 22nd.

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.