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

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the transaction, the insider now owns 586,722 shares of the company’s stock, valued at $8,390,124.60. This represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Grindr Trading Down 1.2 %

GRND stock opened at $14.15 on Monday. The company’s 50 day moving average is $12.86 and its 200 day moving average is $11.60. The stock 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 1-year low of $6.12 and a 1-year high of $15.21.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GRND. TD Cowen boosted their target price on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Raymond James boosted their price target on shares of Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On Grindr

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in Grindr by 7.5% in the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after acquiring an additional 36,001 shares in the last quarter. Barclays PLC raised its position in Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company’s stock valued at $865,000 after purchasing an additional 37,477 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in Grindr during the third quarter worth about $278,000. Petrus Trust Company LTA boosted its holdings in shares of Grindr by 330.7% in the 3rd quarter. Petrus Trust Company LTA now owns 60,312 shares of the company’s stock worth $720,000 after purchasing an additional 46,309 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after purchasing an additional 123,600 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

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.