Grindr (NYSE:GRND) Shares Down 3.6%

Shares of Grindr Inc. (NYSE:GRND) fell 3.6% during trading on Monday . The company traded as low as $11.77 and last traded at $11.80. 122,586 shares traded hands during trading, a decline of 76% from the average session volume of 516,835 shares. The stock had previously closed at $12.24.

Analyst Ratings Changes

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

Grindr Stock Down 2.5 %

The company has a 50 day moving average price of $9.86 and a 200-day moving average price of $9.36.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $75.35 million during the quarter, compared to the consensus estimate of $72.60 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. Analysts expect that Grindr Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling at Grindr

In other Grindr news, CEO George Arison sold 2,931 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,022,666 shares in the company, valued at approximately $30,226,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director James Fu Bin Lu sold 1,000,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $10.00, for a total value of $10,000,000.00. Following the transaction, the director now directly owns 37,708,301 shares in the company, valued at approximately $377,083,010. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO George Arison sold 2,931 shares of the 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 completion of the transaction, the chief executive officer now owns 3,022,666 shares in the company, valued at $30,226,660. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,781,103 shares of company stock valued at $17,183,504. 76.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grindr

A number of large investors have recently modified their holdings of GRND. Price T Rowe Associates Inc. MD lifted its stake in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares in the last quarter. New York State Common Retirement Fund lifted 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 acquiring an additional 2,030 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Grindr during the 1st quarter valued at $209,000. GSA Capital Partners LLP bought a new position in Grindr during the 1st quarter valued at $545,000. Finally, Jump Financial LLC bought a new position in Grindr during the 4th quarter valued at $617,000. 7.22% of the stock is currently owned by institutional investors.

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.