Grindr Inc. (NYSE:GRND) Director Sells $11,355,000.00 in Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 750,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.14, for a total value of $11,355,000.00. Following the transaction, the director now directly owns 31,540,655 shares in the company, valued at $477,525,516.70. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

James Fu Bin Lu also recently made the following trade(s):

• On Wednesday, December 4th, James Fu Bin Lu sold 692,211 shares of Grindr stock. The stock was sold at an average price of $15.37, for a total value of $10,639,283.07.
• On Monday, December 2nd, James Fu Bin Lu sold 683,297 shares of Grindr stock. The shares were sold at an average price of $15.17, for a total transaction of $10,365,615.49.
• On Wednesday, November 13th, James Fu Bin Lu sold 195,600 shares of Grindr stock. The stock was sold at an average price of $14.39, for a total transaction of $2,814,684.00.

Grindr Stock Up 0.4 %

Shares of GRND stock opened at $15.74 on Friday. The company has a 50-day moving average of $14.17 and a two-hundred day moving average of $12.34. Grindr Inc. has a 1-year low of $7.83 and a 1-year high of $16.31.

Hedge Funds Weigh In On Grindr

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Grindr during the third quarter worth $27,000. Price T Rowe Associates Inc. MD boosted its holdings in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares during the period. Point72 DIFC Ltd acquired a new position in Grindr in the 2nd quarter valued at about $136,000. Quest Partners LLC increased its stake in Grindr by 9,055.0% during the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares during the period. Finally, Centiva Capital LP acquired a new stake in shares of Grindr during the third quarter worth about $160,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

GRND has been the subject of a number of recent analyst reports. TD Cowen raised their price target on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Raymond James raised 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.

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.