Grindr Inc. (NYSE:GRND) Director Sells $2,814,684.00 in Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 195,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the sale, the director now owns 34,977,181 shares of the company’s stock, valued at approximately $503,321,634.59. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Grindr Stock Performance

Grindr stock opened at $14.15 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of -40.43 and a beta of 0.33. The stock has a 50-day moving average of $12.86 and a two-hundred day moving average of $11.58. Grindr Inc. has a one year low of $6.12 and a one year high of $15.21.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Grindr

Several hedge funds and other institutional investors have recently modified their holdings of GRND. SG Americas Securities LLC acquired a new position in Grindr during the 2nd quarter valued at approximately $718,000. Yarra Square Partners LP acquired a new position in shares of Grindr in the 2nd quarter valued at $3,005,000. Federated Hermes Inc. purchased a new position in Grindr in the 2nd quarter worth $3,640,000. Point72 Asset Management L.P. acquired a new stake in Grindr during the 2nd quarter worth about $688,000. Finally, Discovery Capital Management LLC CT acquired a new stake in Grindr during the 2nd quarter worth about $3,179,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

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.