Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells $2,814,684.00 in Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 195,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the transaction, the director now directly owns 34,977,181 shares of the company’s stock, valued at approximately $503,321,634.59. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Grindr Trading Down 1.2 %

Shares of Grindr stock opened at $14.15 on Friday. The company has a market cap of $2.49 billion, a P/E ratio of -40.43 and a beta of 0.33. The business has a 50-day moving average price of $12.86 and a two-hundred day moving average price of $11.59. Grindr Inc. has a 1-year low of $6.12 and a 1-year high of $15.21.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GRND shares. Raymond James raised their price objective on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. TD Cowen raised their price target on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Grindr

Several large investors have recently added to or reduced their stakes in GRND. Marshall Wace LLP grew its position in shares of Grindr by 124.0% during the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock worth $7,685,000 after buying an additional 347,626 shares during the period. Federated Hermes Inc. bought a new position in Grindr during the second quarter worth $3,640,000. Discovery Capital Management LLC CT acquired a new stake in Grindr in the second quarter worth $3,179,000. Yarra Square Partners LP bought a new stake in Grindr in the second quarter valued at $3,005,000. Finally, Squarepoint Ops LLC raised its holdings in shares of Grindr by 264.4% during the second quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock valued at $3,192,000 after purchasing an additional 189,237 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.