Grindr Inc. (NYSE:GRND) shares traded -6.24% lower at $6.76 on Wall Street last session.
GRND stock price is now 18.50% away from the 50-day moving average and -25.08% away from the 200-day moving average. The market capitalization of the company currently stands at $1.16B.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
.
In other news, Zage George Raymond III, Director bought 110,000 shares of the company’s stock on Dec 16. The stock was bought for $660,000 at an average price of $6.00. Upon completion of the transaction, the Director now directly owns 5,360,000 shares in the company, valued at $36.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, Director Zage George Raymond III bought 50,000 shares of the business’s stock. A total of $296,500 was incurred on buying the stock at an average price of $5.93. This leaves the insider owning 5,250,000 shares of the company worth $35.49 million. A total of 6.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GRND stock. A new stake in Grindr Inc. shares was purchased by PRESCOTT GENERAL PARTNERS LLC during the first quarter worth $29,856,000. WETHERBY ASSET MANAGEMENT INC invested $8,005,000 in shares of GRND during the first quarter. In the first quarter, BBR PARTNERS, LLC acquired a new stake in Grindr Inc. valued at approximately $2,526,000. XTX TOPCO LTD acquired a new stake in GRND for approximately $213,000. BEAUMONT CAPITAL MANAGEMENT, LLC purchased a new stake in GRND valued at around $78,000 in the second quarter. In total, there are 51 active investors with 12.50% ownership of the company’s stock.
Grindr Inc. (NYSE: GRND) opened at $6.14 on Tuesday. During the past 12 months, Grindr Inc. has had a low of $4.50 and a high of $71.51. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 1.70, and a quick ratio of 1.70. The fifty day moving average price for GRND is $5.70 and a two-hundred day moving average price translates $9.02 for the stock.
The latest earnings results from Grindr Inc. (NYSE: GRND) was released for Sep, 2022.
Grindr Inc.(GRND) Company Profile
Grindr Inc. operates social network platform for the LGBTQ community. Its platform enables gay, bi, trans, and queer people to engage with each other, share content and experiences, and express themselves. It offers a free, ad-supported service and a premium subscription version. The company was founded in 2009 and is based in West Hollywood, California.
