Insider Selling: Grindr (NYSE:GRND) Director Sells $18,255.00 in Stock

Grindr Inc. (NYSE:GRND) Director Nathan Richardson sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $12.17, for a total value of $18,255.00. Following the transaction, the director owned 9,833 shares of the company’s stock, valued at approximately $119,667.61. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nathan Richardson also recently made the following trade(s):

• On Monday, February 2nd, Nathan Richardson sold 1,500 shares of Grindr stock. The stock was sold at an average price of $11.18, for a total transaction of $16,770.00.

Grindr Price Performance

NYSE GRND opened at $12.17 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 8.00. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $25.13. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 28.31 and a beta of 0.21. The company’s 50 day moving average is $11.50 and its two-hundred day moving average is $12.89.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Grindr from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Morgan Stanley started coverage on Grindr in a report on Tuesday, February 24th. They set an “equal weight” rating and a $14.00 price target on the stock. TD Cowen dropped their price objective on Grindr from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group cut their target price on Grindr from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Grindr presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

Institutional Trading of Grindr

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Grindr by 289.1% during the 1st quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after purchasing an additional 65,485 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the last quarter. Creative Planning purchased a new stake in shares of Grindr in the second quarter worth about $310,000. Swiss National Bank boosted its stake in Grindr by 15.4% during the second quarter. Swiss National Bank now owns 59,900 shares of the company’s stock valued at $1,360,000 after buying an additional 8,000 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Grindr by 33.8% during the second quarter. Legal & General Group Plc now owns 30,341 shares of the company’s stock valued at $689,000 after buying an additional 7,668 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.