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

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,000 shares of Grindr stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $18.40, for a total transaction of $18,400.00. Following the completion of the transaction, the director now directly owns 16,642 shares of the company’s stock, valued at approximately $306,212.80. This trade represents a 5.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, March 14th, Nathan Richardson sold 1,000 shares of Grindr stock. The stock was sold at an average price of $16.34, for a total value of $16,340.00.

Grindr Price Performance

NYSE GRND traded up $0.04 on Wednesday, reaching $18.92. The stock had a trading volume of 1,532,094 shares, compared to its average volume of 922,173. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $19.20. The company has a market cap of $3.94 billion, a P/E ratio of -54.06 and a beta of 0.31. The firm has a fifty day moving average of $17.68 and a two-hundred day moving average of $16.20.

Hedge Funds Weigh In On Grindr

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after purchasing an additional 662 shares in the last quarter. Russell Investments Group Ltd. grew its position in Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after buying an additional 642 shares in the last quarter. Quarry LP increased its stake 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 acquiring an additional 2,316 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of 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 acquiring an additional 3,880 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr during the 4th quarter worth $89,000. 7.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Grindr in a report on Thursday, February 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr currently has a consensus rating of “Buy” and a consensus price target of $20.00.

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.