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

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction 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 sale, the insider now directly owns 580,606 shares of the company’s stock, 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 accessible 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 Stock Performance

Shares of Grindr stock opened at $16.91 on Thursday. The firm has a fifty day simple moving average of $16.09 and a 200-day simple moving average of $13.52. Grindr Inc. has a 1-year low of $7.93 and a 1-year high of $18.42.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a report on Monday, December 16th. TD Cowen raised their price target on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. 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. Finally, Raymond James raised their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a report 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.