Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz Sells 60,776 Shares of Stock

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

Grindr Stock Performance

NYSE:GRND opened at $14.15 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of -40.43 and a beta of 0.33. Grindr Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $15.21. The firm has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $11.58.

Institutional Investors Weigh In On Grindr

A number of institutional investors have recently made changes to their positions in GRND. Vanguard Group Inc. lifted its position in Grindr by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after acquiring an additional 30,574 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 during the period. Simplicity Wealth LLC bought a new position in shares of Grindr during the 2nd quarter valued at $303,000. SG Americas Securities LLC bought a new position in shares of Grindr during the 2nd quarter valued at $718,000. Finally, Quest Partners LLC boosted its stake 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 buying an additional 12,677 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.