Grindr (NYSE:GRND) Reaches New 12-Month High – What’s Next?

Grindr Inc. (NYSE:GRND)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $15.39 and last traded at $15.22, with a volume of 21997 shares trading hands. The stock had previously closed at $15.05.

Analysts Set New Price Targets

A number of research firms have weighed in on GRND. TD Cowen upped their price target on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Raymond James lifted their price target on shares of Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Grindr Stock Down 0.9 %

The firm’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $11.79.

Insider Transactions at Grindr

In related news, Director James Fu Bin Lu sold 195,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.39, for a total transaction of $2,814,684.00. Following the transaction, the director now owns 34,977,181 shares in the company, valued at $503,321,634.59. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kye Chen sold 4,964 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $11.81, for a total value of $58,624.84. Following the completion of the sale, the chief accounting officer now owns 130,598 shares of the company’s stock, valued at $1,542,362.38. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 296,549 shares of company stock valued at $4,195,896. 76.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRND. nVerses Capital LLC acquired a new stake in Grindr in the 3rd quarter valued at about $27,000. Point72 DIFC Ltd acquired a new stake in Grindr during the second quarter valued at approximately $136,000. Price T Rowe Associates Inc. MD grew its position in Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after buying an additional 1,667 shares during the last quarter. Quest Partners LLC grew its position in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after buying an additional 12,677 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of Grindr in the third quarter valued at $160,000. 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.