Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu Sells 683,297 Shares

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 683,297 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $15.17, for a total transaction of $10,365,615.49. Following the completion of the sale, the director now owns 33,027,338 shares in the company, valued at $501,024,717.46. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, November 13th, James Fu Bin Lu sold 195,600 shares of Grindr stock. The shares were sold at an average price of $14.39, for a total transaction of $2,814,684.00.

Grindr Price Performance

GRND opened at $15.40 on Thursday. Grindr Inc. has a 12-month low of $7.03 and a 12-month high of $15.52. The firm has a 50 day moving average of $13.58 and a two-hundred day moving average of $12.01.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GRND shares. TD Cowen lifted their target price on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note 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.

Hedge Funds Weigh In On Grindr

Several institutional investors have recently made changes to their positions in GRND. Marshall Wace LLP increased its holdings in shares of Grindr by 124.0% during the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after purchasing an additional 347,626 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Grindr during the 2nd quarter valued at approximately $3,640,000. Discovery Capital Management LLC CT purchased a new position in shares of Grindr during the 2nd quarter valued at approximately $3,179,000. Yarra Square Partners LP purchased a new position in shares of Grindr during the 2nd quarter valued at approximately $3,005,000. Finally, Squarepoint Ops LLC increased its holdings in Grindr by 264.4% in the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after acquiring an additional 189,237 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.