Grindr Inc. (NYSE:GRND) Insider Sells $43,729.40 in Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the completion of the sale, the insider now directly owns 586,722 shares of the company’s stock, valued at $8,390,124.60. The trade was a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Grindr Trading Down 1.2 %

Shares of Grindr stock opened at $14.15 on Monday. The business’s fifty day simple moving average is $12.86 and its 200 day simple moving average is $11.60. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.21. The firm has a market capitalization of $2.49 billion, a P/E ratio of -40.43 and a beta of 0.33.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GRND. Raymond James upped their target price on shares of Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. TD Cowen upped their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Grindr

Several large investors have recently made changes to their positions in GRND. nVerses Capital LLC bought a new position in Grindr during the third quarter valued at about $27,000. Point72 DIFC Ltd purchased a new position in Grindr in the second quarter valued at about $136,000. Price T Rowe Associates Inc. MD boosted its stake in Grindr by 16.5% in the first 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 during the last quarter. Quest Partners LLC grew its position in shares of Grindr by 9,055.0% during the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after acquiring an additional 12,677 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Grindr during the 3rd quarter worth approximately $160,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Company Profile

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.