Insider Selling: Grindr Inc. (NYSE:GRND) CFO Sells 60,776 Shares of Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total value of $868,489.04. Following the transaction, the chief financial officer now owns 722,126 shares of the company’s stock, valued at $10,319,180.54. The trade was a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Grindr Stock Performance

NYSE GRND opened at $14.15 on Friday. Grindr Inc. has a 52 week low of $6.12 and a 52 week high of $15.21. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -40.43 and a beta of 0.33. The stock’s 50 day moving average price is $12.86 and its two-hundred day moving average price is $11.59.

Institutional Investors Weigh In On Grindr

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Grindr in the 2nd quarter valued at $718,000. Yarra Square Partners LP acquired a new position in Grindr in the 2nd quarter valued at $3,005,000. Federated Hermes Inc. acquired a new position in Grindr in the 2nd quarter valued at $3,640,000. Point72 Asset Management L.P. acquired a new position in Grindr in the 2nd quarter valued at $688,000. Finally, Discovery Capital Management LLC CT acquired a new position in Grindr in the 2nd quarter valued at $3,179,000. Institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Cowen boosted their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Raymond James boosted their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th.

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.