Newegg commerce: Galkin family buys $5.8M in NEGG stock
Nathan Richardson, a director at Grindr Inc. (NYSE:GRND), recently sold 1,000 shares of the company’s common stock. The transaction, which took place on April 14, 2025, was conducted at a price of $18.40 per share, totaling $18,400. Following this sale, Richardson holds 16,642 shares in the company. The stock, which has surged over 90% in the past year and currently trades at $18.93, is showing strong momentum near its 52-week high of $19.20. According to InvestingPro analysis, the stock appears overvalued at current levels, with 8 additional key insights available to subscribers.
The sale was executed under a Rule 10b5-1 trading plan, which Richardson adopted on May 15, 2024. Such plans allow insiders of publicly traded corporations to set up a predetermined schedule for buying or selling stock, helping to avoid potential conflicts of interest. While the company is not currently profitable, analysts expect Grindr to turn profitable this year, with projected earnings of $0.33 per share. Discover more detailed insights and access comprehensive analysis in the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Grindr Inc. reported impressive financial results for the fourth quarter of 2024, with revenue reaching $98 million, marking a 35% year-over-year increase and surpassing the expected $91 million. The company’s full-year revenue for 2024 was $345 million, a 33% increase from the previous year. Following these results, Goldman Sachs maintained its Buy rating on Grindr, setting a price target of $20, citing the company’s strong product roadmap and global brand expansion efforts. Additionally, Raymond (NSE:RYMD) James analyst Andy Marok raised the price target for Grindr to $22, reiterating an Outperform rating, and highlighted Grindr’s operational excellence and strategic stock repurchase program.
Grindr announced a $500 million share repurchase program, which is approximately 15% of the company’s market capitalization, indicating a commitment to shareholder returns. The company’s guidance for 2025 projects a revenue growth of 24% or higher, with an adjusted EBITDA margin of 41% or more. Furthermore, Grindr has made amendments to CEO George Arison’s employment agreement, affecting severance benefits and performance-vesting criteria for equity awards. These developments reflect Grindr’s ongoing efforts to align executive compensation with company performance and market conditions.
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