Grindr Inc. (NYSE:GRND) Insider Sells 3,058 Shares

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $16.40, for a total value of $50,151.20. Following the completion of the transaction, the insider now owns 580,606 shares in the company, valued at approximately $9,521,938.40. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Zachary Katz also recently made the following trade(s):

• On Wednesday, November 13th, Zachary Katz sold 3,058 shares of Grindr stock. The shares were sold at an average price of $14.30, for a total value of $43,729.40.

Grindr Price Performance

GRND stock traded up $0.25 during mid-day trading on Wednesday, reaching $16.91. 918,559 shares of the company traded hands, compared to its average volume of 901,828. The company has a fifty day moving average price of $16.09 and a 200-day moving average price of $13.52. Grindr Inc. has a 52-week low of $7.93 and a 52-week high of $18.42. The company has a market capitalization of $2.99 billion, a P/E ratio of -48.31 and a beta of 0.31.

Hedge Funds Weigh In On Grindr

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Grindr in the 2nd quarter valued at $3,640,000. Hsbc Holdings PLC boosted its stake in Grindr by 9.5% during the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after buying an additional 2,050 shares during the period. XTX Topco Ltd purchased a new position in Grindr during the second quarter worth about $371,000. Sei Investments Co. purchased a new position in Grindr during the second quarter worth about $483,000. Finally, Yarra Square Partners LP bought a new position in Grindr in the 2nd quarter worth about $3,005,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of several recent research reports. TD Cowen lifted their price objective on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Raymond James lifted their target price 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. JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research note on Monday, December 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 price objective for the company.

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.