Grindr Inc. (NYSE:GRND) Director Sells $16,580.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $16.58, for a total value of $16,580.00. Following the transaction, the director now owns 19,642 shares of the company’s stock, valued at $325,664.36. The trade was a 4.84 % 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.

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

• On Monday, November 11th, Nathan Richardson sold 4,766 shares of Grindr stock. The stock was sold at an average price of $15.00, for a total transaction of $71,490.00.
• On Friday, November 8th, Nathan Richardson sold 5,234 shares of Grindr stock. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00.

Grindr Stock Performance

NYSE GRND traded down $0.01 on Thursday, reaching $16.92. The company had a trading volume of 726,263 shares, compared to its average volume of 884,266. The company’s fifty day moving average is $16.14 and its 200-day moving average is $13.55. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -48.33 and a beta of 0.31. Grindr Inc. has a 1-year low of $7.93 and a 1-year high of $18.42.

Institutional Trading of Grindr

A number of institutional investors have recently modified their holdings of GRND. Federated Hermes Inc. bought a new stake in Grindr in the 2nd quarter valued at approximately $3,640,000. Hsbc Holdings PLC lifted its position in shares of Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after purchasing an additional 2,050 shares in the last quarter. XTX Topco Ltd acquired a new position in Grindr during the second quarter worth $371,000. Sei Investments Co. acquired a new stake in Grindr in the 2nd quarter valued at $483,000. Finally, Yarra Square Partners LP acquired a new stake in Grindr in the 2nd quarter valued at $3,005,000. 7.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.