Grindr Inc. (NYSE:GRND) Insider Zachary Katz Sells 3,058 Shares of Stock

Grindr Inc. (NYSE:GRND) insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the sale, the insider now directly owns 613,800 shares in the company, valued at $9,961,974. This represents a 0.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 11th, Zachary Katz sold 3,057 shares of Grindr stock. The shares were sold at an average price of $18.00, for a total value of $55,026.00.
• 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 Stock Down 0.9 %

NYSE:GRND opened at $16.37 on Friday. The company has a market capitalization of $2.89 billion, a PE ratio of -46.76 and a beta of 0.30. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $19.20. The stock has a fifty day simple moving average of $17.59 and a 200-day simple moving average of $15.21.

Hedge Funds Weigh In On Grindr

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company’s stock valued at $944,000 after purchasing an additional 623 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after buying an additional 642 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Grindr by 5.6% during the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company’s stock valued at $512,000 after buying an additional 1,524 shares during the last quarter. Finally, Savant Capital LLC increased its position in Grindr by 9.6% during the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company’s stock worth $345,000 after buying an additional 1,689 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GRND. The Goldman Sachs Group began coverage on shares of Grindr in a research report on Monday, December 16th. They set a “buy” rating and a $20.00 target price on the stock. Raymond James reissued an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $19.75.

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.