Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu Sells 195,600 Shares

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 195,600 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the completion of the transaction, the director now owns 34,977,181 shares in the company, valued at approximately $503,321,634.59. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Grindr Stock Down 0.4 %

Shares of NYSE:GRND traded down $0.06 during trading on Friday, hitting $14.26. 114,694 shares of the company traded hands, compared to its average volume of 526,457. The business’s fifty day moving average is $12.81 and its 200-day moving average is $11.55. Grindr Inc. has a one year low of $6.12 and a one year high of $15.21.

Hedge Funds Weigh In On Grindr

Several institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP grew its holdings in Grindr by 124.0% in the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock worth $7,685,000 after buying an additional 347,626 shares in the last quarter. Federated Hermes Inc. bought a new position in Grindr in the 2nd quarter worth approximately $3,640,000. Discovery Capital Management LLC CT bought a new position in Grindr in the 2nd quarter worth approximately $3,179,000. Yarra Square Partners LP bought a new position in Grindr in the 2nd quarter worth approximately $3,005,000. Finally, Squarepoint Ops LLC grew its holdings in Grindr by 264.4% in the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after buying an additional 189,237 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GRND. Raymond James upped their price objective on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. TD Cowen upped their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

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.