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

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

Grindr Price Performance

Shares of NYSE:GRND traded down $0.17 during trading on Friday, hitting $14.15. 468,067 shares of the company’s stock were exchanged, compared to its average volume of 528,049. The business’s 50-day simple moving average is $12.81 and its 200 day simple moving average is $11.55. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -40.43 and a beta of 0.33. Grindr Inc. has a 52-week low of $6.12 and a 52-week high of $15.21.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently added to or reduced their stakes in GRND. The Manufacturers Life Insurance Company boosted its position in shares of Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after acquiring an additional 1,166 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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. Hsbc Holdings PLC lifted its stake in Grindr by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after purchasing an additional 2,050 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Grindr during the 3rd quarter valued at about $27,000. Finally, Bleakley Financial Group LLC grew its position in shares of Grindr by 9.6% during the third quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock valued at $324,000 after purchasing an additional 2,371 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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