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

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $16.34, for a total value of $16,340.00. Following the completion of the sale, the director now owns 17,642 shares of the company’s stock, valued at approximately $288,270.28. This trade represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, January 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The shares were sold at an average price of $16.58, for a total value of $16,580.00.

Grindr Stock Performance

GRND opened at $16.94 on Friday. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -48.40 and a beta of 0.30. The firm’s 50-day simple moving average is $17.54 and its 200-day simple moving average is $15.25.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GRND. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. Citigroup reissued an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Raymond James reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group began coverage on Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.75.

Institutional Trading of Grindr

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. Quarry LP raised its holdings in Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company’s stock worth $61,000 after purchasing an additional 2,316 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Grindr by 511.9% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company’s stock valued at $83,000 after purchasing an additional 3,880 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr during the 4th quarter worth approximately $89,000. Finally, R Squared Ltd acquired a new position in Grindr in the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

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.