Grindr Inc. (NYSE:GRND) Director Sells $16,580.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $16.58, for a total value of $16,580.00. Following the transaction, the director now directly owns 19,642 shares in the company, valued at $325,664.36. This trade represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nathan Richardson also recently made the following trade(s):

• On Monday, November 11th, Nathan Richardson sold 4,766 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total transaction of $71,490.00.
• On Friday, November 8th, Nathan Richardson sold 5,234 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00.

Grindr Price Performance

Grindr stock traded down $0.01 during midday trading on Thursday, hitting $16.92. The company’s stock had a trading volume of 726,263 shares, compared to its average volume of 884,266. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -48.33 and a beta of 0.31. Grindr Inc. has a 1-year low of $7.93 and a 1-year high of $18.42. The company has a 50-day moving average price of $16.14 and a two-hundred day moving average price of $13.55.

Institutional Investors Weigh In On Grindr

A number of hedge funds and other institutional investors have recently made changes to their positions in GRND. Federated Hermes Inc. acquired a new stake in Grindr during the second quarter worth approximately $3,640,000. Hsbc Holdings PLC lifted its position in shares of Grindr by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after acquiring an additional 2,050 shares during the period. XTX Topco Ltd acquired a new stake in shares of Grindr during the 2nd quarter worth $371,000. Sei Investments Co. bought a new position in shares of Grindr in the second quarter worth $483,000. Finally, Yarra Square Partners LP acquired a new position in Grindr in the second quarter valued at about $3,005,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GRND shares. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research note on Monday, December 16th. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 target price for the company. TD Cowen increased their price target on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Raymond James lifted their price objective on shares of Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research 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.