Grindr Inc. (NYSE:GRND - Get Free Report) insider Zachary Katz sold 3,058 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the transaction, the insider now owns 613,800 shares in the company, valued at $9,961,974. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $18.00, for a total transaction 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 Performance
NYSE GRND traded down $0.15 during trading on Thursday, hitting $16.37. 2,241,584 shares of the company's stock traded hands, compared to its average volume of 1,596,120. The business has a 50 day moving average of $17.59 and a 200-day moving average of $15.21. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of -46.76 and a beta of 0.30.
Wall Street Analysts Forecast Growth
GRND has been the subject of several analyst reports. Raymond James reaffirmed an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. 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 price objective for the company. Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $19.75.
View Our Latest Stock Report on Grindr
Hedge Funds Weigh In On Grindr
Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after purchasing an additional 642 shares in the last quarter. Quarry LP increased its position in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased 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 purchasing an additional 3,880 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Grindr in the 4th quarter worth about $89,000. Finally, R Squared Ltd bought a new stake in Grindr during the 4th quarter valued at about $101,000. 7.22% of the stock is currently owned by institutional investors.
About Grindr
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Grindr, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grindr wasn't on the list.
While Grindr currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
