Insider Selling: Grindr Inc. (NYSE:GRND) Insider Sells $49,631.34 in Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Trading Up 3.3 %

GRND stock opened at $16.94 on Friday. The stock has a 50-day moving average price of $17.54 and a two-hundred day moving average price of $15.27. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The company has a market cap of $2.99 billion, a PE ratio of -48.40 and a beta of 0.30.

Institutional Investors Weigh In On Grindr

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after acquiring an additional 93,005 shares during the period. Point72 Asset Management L.P. grew its position in 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 acquiring an additional 123,600 shares during the period. Charles Schwab Investment Management Inc. grew its position in Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after acquiring an additional 17,678 shares during the period. Graypoint LLC purchased a new stake in Grindr during the fourth quarter valued at about $1,211,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Grindr in the third quarter worth about $365,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GRND shares. Raymond James reissued an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group assumed coverage on Grindr in a research report on Monday, December 16th. They issued a “buy” rating and a $20.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $19.75.

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.