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

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.29, for a total transaction of $868,489.04. Following the sale, the chief financial officer now owns 722,126 shares of the company’s stock, valued at $10,319,180.54. This trade represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Grindr Price Performance

Shares of NYSE:GRND opened at $14.15 on Friday. The firm’s 50 day simple moving average is $12.86 and its two-hundred day simple moving average is $11.58. The company has a market capitalization of $2.49 billion, a P/E 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 Analyst Weigh In

Several research analysts have recently weighed in on GRND shares. 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. TD Cowen boosted their price target on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Grindr by 7.5% during the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock valued at $6,139,000 after acquiring an additional 36,001 shares during the period. Barclays PLC grew its position in shares of Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company’s stock worth $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 3rd quarter valued at approximately $278,000. Petrus Trust Company LTA lifted its holdings in shares of Grindr by 330.7% in the third quarter. Petrus Trust Company LTA now owns 60,312 shares of the company’s stock worth $720,000 after buying an additional 46,309 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Grindr by 219.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after purchasing an additional 123,600 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

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.