Insider Selling: Grindr Inc. (NYSE:GRND) CFO Sells 60,776 Shares of Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.29, for a total value of $868,489.04. Following the completion of the transaction, the chief financial officer now directly owns 722,126 shares in the company, valued at approximately $10,319,180.54. This represents a 7.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Grindr Price Performance

Shares of GRND stock traded down $0.17 on Friday, reaching $14.15. 468,067 shares of the company’s stock were exchanged, compared to its average volume of 528,049. Grindr Inc. has a 52 week low of $6.12 and a 52 week high of $15.21. The company’s fifty day simple moving average is $12.81 and its 200 day simple moving average is $11.55.

Analysts Set New Price Targets

Several brokerages recently issued reports on GRND. TD Cowen lifted their target price on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Raymond James lifted their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently modified their holdings of GRND. Vanguard Group Inc. raised its position in Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after purchasing an additional 30,574 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after purchasing an additional 1,667 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Grindr in the 2nd quarter worth $303,000. SG Americas Securities LLC bought a new position in shares of Grindr in the 2nd quarter worth $718,000. Finally, Quest Partners LLC raised its position in shares of 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 acquiring an additional 12,677 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

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.