Zachary Katz Sells 3,057 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,057 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the transaction, the insider now directly owns 577,549 shares of the company’s stock, valued at $10,395,882. This represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Zachary Katz also recently made the following trade(s):

• On Monday, January 13th, Zachary Katz sold 3,058 shares of Grindr stock. The stock was sold at an average price of $16.40, for a total value of $50,151.20.

Grindr Price Performance

Shares of GRND opened at $18.27 on Friday. The stock has a market capitalization of $3.23 billion, a PE ratio of -52.21 and a beta of 0.30. The business’s fifty day moving average price is $17.38 and its 200 day moving average price is $14.46. Grindr Inc. has a 12-month low of $7.93 and a 12-month high of $18.70.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Grindr during the 3rd quarter valued at about $27,000. Bleakley Financial Group LLC raised its position in shares of Grindr by 9.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after purchasing an additional 2,371 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $365,000. Aigen Investment Management LP acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $225,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Grindr in the 3rd quarter worth approximately $321,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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 for the company. Raymond James reissued an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Grindr in a report on Friday, January 24th. TD Cowen upped their target price on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research report on Thursday, February 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.