Grindr Inc. (NYSE:GRND) CFO Sells $868,489.04 in Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of Grindr stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total transaction of $868,489.04. Following the completion of the transaction, the chief financial officer now owns 722,126 shares of the company’s stock, valued at $10,319,180.54. The trade was a 7.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Grindr Trading Down 1.2 %

GRND stock opened at $14.15 on Monday. The firm has a 50 day moving average of $12.86 and a 200-day moving average of $11.60. The firm has a market capitalization of $2.49 billion, a P/E ratio of -40.43 and a beta of 0.33. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.21.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Grindr by 7.5% in the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after buying an additional 36,001 shares in the last quarter. Barclays PLC increased its stake in Grindr by 106.8% in the 3rd quarter. Barclays PLC now owns 72,580 shares of the company’s stock worth $865,000 after acquiring an additional 37,477 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Grindr in the 3rd quarter valued at about $278,000. Petrus Trust Company LTA boosted its position in shares of Grindr by 330.7% during the 3rd quarter. Petrus Trust Company LTA now owns 60,312 shares of the company’s stock valued at $720,000 after acquiring an additional 46,309 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after acquiring an additional 123,600 shares during the last quarter. 7.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.