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 business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total value of $868,489.04. Following the transaction, the chief financial officer now owns 722,126 shares in the company, valued at approximately $10,319,180.54. This trade represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Grindr Stock Down 1.2 %

GRND stock traded down $0.17 during trading on Friday, hitting $14.15. 468,067 shares of the company traded hands, compared to its average volume of 528,049. The stock’s 50-day simple moving average is $12.81 and its 200 day simple moving average is $11.55. Grindr Inc. has a 1 year low of $6.12 and a 1 year high of $15.21.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen boosted their target price 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 upped their target price on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in shares of Grindr by 9.3% in the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after acquiring an additional 2,050 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Grindr in the third quarter worth approximately $27,000. Finally, Bleakley Financial Group LLC boosted its stake in shares of Grindr by 9.6% in the third quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after acquiring an additional 2,371 shares during the last quarter. 7.22% of the stock is currently 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.