Zachary Katz Sells 3,057 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the sale, the insider now directly owns 577,549 shares of the company’s stock, valued at approximately $10,395,882. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Zachary Katz also recently made the following trade(s):

• On Monday, January 13th, Zachary Katz sold 3,058 shares of Grindr stock. The stock was sold at an average price of $16.40, for a total value of $50,151.20.

Grindr Price Performance

GRND stock opened at $18.27 on Friday. The company has a 50-day moving average of $17.38 and a two-hundred day moving average of $14.44. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -52.21 and a beta of 0.30. Grindr Inc. has a 52-week low of $7.93 and a 52-week high of $18.70.

Institutional Investors Weigh In On Grindr

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after purchasing an additional 93,005 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Grindr by 219.9% during the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after buying an additional 123,600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Grindr by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after buying an additional 17,678 shares during the period. Graypoint LLC bought a new stake in shares of Grindr in the fourth quarter valued at about $1,211,000. Finally, Principal Financial Group Inc. acquired a new stake in Grindr during the third quarter worth about $365,000. 7.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GRND. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a report on Thursday, February 6th. TD Cowen lifted their target price on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group initiated coverage on shares of Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Raymond James reaffirmed an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Grindr in a research report on Friday, January 24th.

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.