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

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 195,600 shares of the stock in a transaction on 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 represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Grindr Trading Down 1.2 %

Shares of NYSE:GRND opened at $14.15 on Friday. The stock has a market cap of $2.49 billion, a PE ratio of -40.43 and a beta of 0.33. The stock’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $11.59. Grindr Inc. has a 1-year low of $6.12 and a 1-year high of $15.21.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRND. TD Cowen raised 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. Raymond James raised their price target on shares of Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently made changes to their positions in GRND. Marshall Wace LLP grew its position 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 purchasing an additional 347,626 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Grindr in the 2nd quarter worth approximately $3,640,000. Discovery Capital Management LLC CT bought a new position in shares of Grindr in the second quarter valued at approximately $3,179,000. Yarra Square Partners LP purchased a new stake in shares of Grindr during the second quarter valued at approximately $3,005,000. Finally, Squarepoint Ops LLC increased its position in shares of Grindr by 264.4% during the second quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock valued at $3,192,000 after acquiring an additional 189,237 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.