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 stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the sale, the insider now owns 586,722 shares in the company, valued at approximately $8,390,124.60. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Grindr Stock Down 1.2 %

Shares of NYSE:GRND opened at $14.15 on Friday. The company’s 50-day moving average price is $12.86 and its 200 day moving average price is $11.58. The company has a market cap of $2.49 billion, a PE ratio of -40.43 and a beta of 0.33. Grindr Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $15.21.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Grindr

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares during the period. Hsbc Holdings PLC increased its stake in shares of Grindr by 9.5% during the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after acquiring an additional 2,050 shares during the period. nVerses Capital LLC bought a new stake in Grindr during the third quarter worth approximately $27,000. Finally, Bleakley Financial Group LLC lifted its position in Grindr by 9.6% in the third quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after purchasing an additional 2,371 shares during the period. Institutional investors own 7.22% of the company’s stock.

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.