Grindr GC and head of international affairs sold $50,151 per share By Investing.com

Zachary Katz, Grinder Katz disposed of 3,058 shares of Grindr common stock on Jan. 13, 2025, according to Inc.’s Form 4 filing with the Securities and Exchange Commission. The shares traded at an average price of $16.40, with individual trading prices ranging from $16.30 to $16.53. The total value of the shares sold was $50,151. The transaction comes as Grindr’s stock has shown impressive strength, returning 91% over the past year and trading at a 52-week high of around $18.43. As he says Invest Pro On analysis, the company currently appears to be overvalued at a market capitalization of $2.99 ​​billion.

Following this transaction, Katz will own 580,606 shares in Grindr. The sale was made pursuant to a Rule 10b5-1 business plan that Katz adopted on August 12, 2024. Invest Pro The data shows that the company maintains a good financial health score with liquid assets in excess of short-term liabilities. Subscribers can access 10+ additional protips and a comprehensive pro research report to gain a deeper understanding of Grindr’s financial position and growth prospects.

In other recent news, Grindr, the online dating platform, has been the subject of positive analysis by Goldman Sachs. The firm initiated coverage on Grindr with a buy rating and set a 12-month price target of $20.00. Goldman Sachs’ assessment focuses on the company’s ability to achieve compound annual growth in revenue of 20% or more from 2024 to 2029. These recent developments reflect widespread optimism about Grindr’s growth prospects and market potential.

Grindr also reported strong Q3 financial performance in their recent earnings call. The company reported a 27 percent year-over-year increase in revenue, to $89 million, and adjusted EBITDA of $40 million. The success of their weekly unlimited subscription and increased advertising demand contributed to this growth. Grindr has raised its revenue growth guidance for the year to 29% or more, signaling the company’s bright future.

These recent events reflect Grindr’s strong operational execution and solid financial performance, as well as analysts’ confidence in the company’s strategic positioning and growth prospects.

Disclaimer: James Lu of Grindr Inc. He is the chairman and owner of Investing.com.

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