Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells 1,000 Shares of Stock

Grindr Inc. (NYSE:GRND - Get Free Report) Director Nathan Richardson sold 1,000 shares of Grindr stock in a transaction on Monday, April 14th. The shares were sold at an average price of $18.40, for a total value of $18,400.00. Following the transaction, the director now owns 16,642 shares in the company, valued at $306,212.80. This trade represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, March 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $16.34, for a total transaction of $16,340.00.

Grindr Stock Performance

NYSE GRND traded down $0.29 during trading on Monday, hitting $19.29. The stock had a trading volume of 1,141,949 shares, compared to its average volume of 936,769. Grindr Inc. has a one year low of $8.95 and a one year high of $19.77. The stock has a 50 day simple moving average of $17.77 and a 200 day simple moving average of $16.44. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -55.11 and a beta of 0.31.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GRND. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a research note on Monday. Raymond James reiterated an "outperform" rating and set a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $20.75.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently modified their holdings of the business. BIT Capital GmbH lifted its position in shares of Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock worth $71,165,000 after purchasing an additional 349,189 shares during the last quarter. Marshall Wace LLP boosted its position in Grindr by 85.2% in the 4th quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock valued at $19,928,000 after buying an additional 513,770 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Grindr by 50.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 974,308 shares of the company's stock worth $17,382,000 after acquiring an additional 327,208 shares during the period. Federated Hermes Inc. raised its stake in shares of Grindr by 101.3% during the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock valued at $15,450,000 after acquiring an additional 435,748 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Grindr by 37.0% in the fourth quarter. Nuveen Asset Management LLC now owns 792,916 shares of the company's stock valued at $14,146,000 after purchasing an additional 214,102 shares during the period. 7.22% of the stock is owned by institutional investors.

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.