Grindr Inc. (NYSE:GRND) Director Sells $78,510.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 5,234 shares of Grindr stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.00, for a total value of $78,510.00. Following the completion of the transaction, the director now directly owns 27,408 shares of the company’s stock, valued at approximately $411,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Nathan Richardson also recently made the following trade(s):

• On Monday, November 11th, Nathan Richardson sold 4,766 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total transaction of $71,490.00.
• On Monday, October 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $12.68, for a total transaction of $12,680.00.

Grindr Stock Down 3.1 %

Grindr stock opened at $14.18 on Thursday. The stock has a market cap of $2.50 billion, a P/E ratio of -40.51 and a beta of 0.33. The company’s 50 day moving average price is $12.76 and its two-hundred day moving average price is $11.53. Grindr Inc. has a 52 week low of $6.01 and a 52 week high of $15.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in shares of Grindr by 124.0% during the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock worth $7,685,000 after purchasing an additional 347,626 shares during the period. Federated Hermes Inc. bought a new stake in Grindr in the second quarter worth about $3,640,000. Discovery Capital Management LLC CT purchased a new position in Grindr in the second quarter valued at about $3,179,000. Yarra Square Partners LP bought a new position in shares of Grindr during the 2nd quarter valued at approximately $3,005,000. Finally, Squarepoint Ops LLC increased its stake in shares of Grindr by 264.4% during the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after purchasing an additional 189,237 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen upped their price objective 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 upped their price target 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.