Grindr Inc. (NYSE:GRND) Director Sells $10,365,615.49 in Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 683,297 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.17, for a total transaction of $10,365,615.49. Following the sale, the director now directly owns 33,027,338 shares in the company, valued at approximately $501,024,717.46. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

James Fu Bin Lu also recently made the following trade(s):

• On Wednesday, November 13th, James Fu Bin Lu sold 195,600 shares of Grindr stock. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00.

Grindr Trading Up 0.7 %

Shares of Grindr stock traded up $0.11 during mid-day trading on Wednesday, hitting $15.40. 1,092,655 shares of the stock were exchanged, compared to its average volume of 538,547. The company has a 50-day simple moving average of $13.58 and a 200 day simple moving average of $12.01. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -44.00 and a beta of 0.37. Grindr Inc. has a twelve month low of $7.03 and a twelve month high of $15.52.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

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

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.