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

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

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 Stock Down 1.9 %

NYSE:GRND traded down $0.35 on Monday, hitting $18.27. The stock had a trading volume of 896,050 shares, compared to its average volume of 1,024,186. Grindr Inc. has a 52 week low of $7.93 and a 52 week high of $18.70. The business's fifty day moving average is $17.44 and its 200 day moving average is $14.53. The company has a market cap of $3.23 billion, a PE ratio of -52.21 and a beta of 0.30.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on 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 restated an "outperform" rating and set a $21.00 price target (up from $19.00) on shares of Grindr in a report on Friday, January 24th. TD Cowen lifted their price objective 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 reissued a "market outperform" rating and set a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th.

Hedge Funds Weigh In On Grindr

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Grindr by 1.2% during the 4th 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 in the last quarter. Russell Investments Group Ltd. increased its position in shares of Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after acquiring an additional 642 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock worth $163,000 after acquiring an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after acquiring an additional 1,524 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in Grindr by 9.6% during the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after purchasing an additional 1,689 shares during the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

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.