Vandana Mehta-Krantz Sells 60,776 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) CFO Vandana Mehta-Krantz sold 60,776 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.29, for a total value of $868,489.04. Following the sale, the chief financial officer now owns 722,126 shares in the company, 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 the SEC website.

Grindr Price Performance

GRND opened at $14.15 on Monday. The stock’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $11.60. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -40.43 and a beta of 0.33. Grindr Inc. has a 1 year low of $6.12 and a 1 year high of $15.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GRND. Marshall Wace LLP raised its holdings in Grindr by 124.0% during the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after buying an additional 347,626 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Grindr in the second quarter valued at about $3,640,000. Discovery Capital Management LLC CT bought a new position in shares of Grindr during the second quarter valued at about $3,179,000. Yarra Square Partners LP purchased a new stake in shares of Grindr during the second quarter worth about $3,005,000. Finally, Squarepoint Ops LLC grew its stake in shares of Grindr by 264.4% in the second quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after purchasing an additional 189,237 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GRND shares. TD Cowen upped their target price on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Raymond James upped 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.

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.