Zachary Katz Sells 3,058 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the completion of the transaction, the insider now directly owns 580,606 shares of the company’s stock, valued at approximately $9,521,938.40. This represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, November 13th, Zachary Katz sold 3,058 shares of Grindr stock. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40.

Grindr Stock Performance

GRND stock traded up $0.25 during trading on Wednesday, hitting $16.91. 918,559 shares of the company traded hands, compared to its average volume of 901,828. The company has a 50-day moving average of $16.09 and a 200-day moving average of $13.52. Grindr Inc. has a 1 year low of $7.93 and a 1 year high of $18.42. The firm has a market capitalization of $2.99 billion, a PE ratio of -48.31 and a beta of 0.31.

Analyst Ratings Changes

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

Institutional Trading of Grindr

A number of institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Grindr during the 3rd quarter valued at $27,000. Point72 DIFC Ltd bought a new position in shares of Grindr during the second quarter valued at about $136,000. Centiva Capital LP purchased a new stake in shares of Grindr during the third quarter worth about $160,000. The Manufacturers Life Insurance Company grew its stake in shares of Grindr by 9.3% in the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Grindr during the 2nd quarter valued at about $189,000. Hedge funds and other institutional investors 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.