Insider Selling: Grindr Inc. (NYSE:GRND) Insider Sells 3,058 Shares of Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the sale, the insider now directly owns 613,800 shares of the company’s stock, valued at $9,961,974. The trade was a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, February 11th, Zachary Katz sold 3,057 shares of Grindr stock. The stock was sold at an average price of $18.00, for a total value of $55,026.00.
• 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 Stock Up 3.3 %

Shares of NYSE GRND opened at $16.94 on Friday. The stock’s 50 day moving average price is $17.54 and its two-hundred day moving average price is $15.27. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $19.20. The stock has a market capitalization of $2.99 billion, a P/E ratio of -48.40 and a beta of 0.30.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently bought and sold shares of GRND. Russell Investments Group Ltd. grew its holdings in shares of Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. Quarry LP grew its holdings in shares of Grindr by 209.2% during the fourth quarter. Quarry LP now owns 3,423 shares of the company’s stock valued at $61,000 after purchasing an additional 2,316 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Grindr by 511.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock worth $83,000 after buying an additional 3,880 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Grindr in the 4th quarter worth approximately $89,000. Finally, R Squared Ltd bought a new position in Grindr in the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analysts Set New Price Targets

GRND has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 price target on the stock. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Grindr in a research note on Thursday, February 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $19.75.

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.