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

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of the firm’s stock in a transaction on 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 owns 722,126 shares in the company, valued at approximately $10,319,180.54. The trade was a 7.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Grindr Stock Performance

Shares of NYSE GRND opened at $14.15 on Friday. The business has a fifty day moving average of $12.86 and a two-hundred day moving average of $11.59. Grindr Inc. has a 52-week low of $6.12 and a 52-week high of $15.21. The stock has a market cap of $2.49 billion, a PE ratio of -40.43 and a beta of 0.33.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen raised their price objective on shares of 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 stock an “outperform” rating in a research note on Friday, November 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP raised its holdings in shares of Grindr by 124.0% in the second quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after buying an additional 347,626 shares during the last quarter. Skye Global Management LP raised its holdings in Grindr by 23.3% during the 3rd quarter. Skye Global Management LP now owns 592,000 shares of the company’s stock worth $7,063,000 after purchasing an additional 112,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after purchasing an additional 30,574 shares during the last quarter. Geode Capital Management LLC raised its holdings in Grindr by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after purchasing an additional 36,001 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in Grindr during the 2nd quarter worth about $3,640,000. 7.22% of the stock is owned by 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.