Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells $16,580.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $16.58, for a total transaction of $16,580.00. Following the transaction, the director now directly owns 19,642 shares of the company’s stock, valued at approximately $325,664.36. This trade represents a 4.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nathan Richardson also recently made the following trade(s):

• On Monday, November 11th, Nathan Richardson sold 4,766 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total value of $71,490.00.
• On Friday, November 8th, Nathan Richardson sold 5,234 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total value of $78,510.00.

Grindr Stock Performance

GRND opened at $17.07 on Friday. Grindr Inc. has a 12 month low of $7.93 and a 12 month high of $18.42. The business has a 50-day moving average of $16.22 and a two-hundred day moving average of $13.62.

Institutional Investors Weigh In On Grindr

Several hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC acquired a new position in Grindr during the third quarter worth approximately $7,720,000. Marshall Wace LLP increased its holdings 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 last quarter. Federated Hermes Inc. purchased a new position in shares of Grindr in the 2nd quarter worth $3,640,000. Discovery Capital Management LLC CT purchased a new position in shares of Grindr in the 2nd quarter worth $3,179,000. Finally, Yarra Square Partners LP acquired a new position in Grindr in the second quarter valued at $3,005,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRND has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research report on Monday, December 16th. The Goldman Sachs Group began coverage on shares of Grindr in a research report on Monday, December 16th. They issued a “buy” rating and a $20.00 price objective for the company. Raymond James upped their price objective on shares of Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, TD Cowen lifted their target price on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

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.