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

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the completion of the transaction, the insider now directly owns 586,722 shares of the company’s stock, valued at approximately $8,390,124.60. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Grindr Trading Down 1.2 %

Shares of GRND traded down $0.17 during trading hours on Friday, reaching $14.15. 468,067 shares of the company traded hands, compared to its average volume of 528,049. The stock’s fifty day moving average price is $12.81 and its 200 day moving average price is $11.55. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -40.43 and a beta of 0.33. Grindr Inc. has a 12-month low of $6.12 and a 12-month high of $15.21.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRND. Orion Portfolio Solutions LLC bought a new position in Grindr during the 3rd quarter worth about $278,000. Petrus Trust Company LTA grew its position in shares of Grindr by 330.7% in the 3rd 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 during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after acquiring an additional 123,600 shares in the last quarter. Centiva Capital LP purchased a new position in Grindr in the third quarter worth $160,000. Finally, PDT Partners LLC acquired a new stake in shares of Grindr in the 3rd quarter worth $225,000. Institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen upped their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Raymond James upped their target price on Grindr from $16.00 to $19.00 and gave the company 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.