Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells 195,600 Shares of Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 195,600 shares of Grindr stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.39, for a total value of $2,814,684.00. Following the completion of the transaction, the director now directly owns 34,977,181 shares of the company’s stock, valued at $503,321,634.59. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Grindr Stock Up 1.0 %

Shares of GRND traded up $0.14 during midday trading on Thursday, hitting $14.32. The company’s stock had a trading volume of 795,466 shares, compared to its average volume of 528,321. Grindr Inc. has a one year low of $6.12 and a one year high of $15.21. The company’s fifty day simple moving average is $12.81 and its two-hundred day simple moving average is $11.55. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -40.91 and a beta of 0.33.

Hedge Funds Weigh In On Grindr

Several hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in Grindr in the 3rd quarter worth about $27,000. Price T Rowe Associates Inc. MD increased its holdings in Grindr by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Grindr in the 2nd quarter worth about $136,000. Quest Partners LLC increased its holdings in Grindr by 9,055.0% in the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after purchasing an additional 1,166 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GRND shares. TD Cowen lifted their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Raymond James lifted their price target on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

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.