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 company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.39, for a total transaction of $2,814,684.00. Following the transaction, the director now owns 34,977,181 shares in the company, valued at $503,321,634.59. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Grindr Price Performance

Grindr stock opened at $14.15 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -40.43 and a beta of 0.33. The firm has a 50-day moving average of $12.86 and a two-hundred day moving average of $11.58. Grindr Inc. has a 1 year low of $6.12 and a 1 year high of $15.21.

Institutional Trading of Grindr

Large investors have recently modified their holdings of the company. Barclays PLC increased its holdings in Grindr by 106.8% during the 3rd quarter. Barclays PLC now owns 72,580 shares of the company’s stock worth $865,000 after purchasing an additional 37,477 shares during the period. Orion Portfolio Solutions LLC bought a new position in shares of Grindr during the 3rd quarter worth $278,000. Petrus Trust Company LTA increased its stake in shares of Grindr by 330.7% during the third quarter. Petrus Trust Company LTA now owns 60,312 shares of the company’s stock valued at $720,000 after buying an additional 46,309 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Grindr by 219.9% in the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after acquiring an additional 123,600 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in Grindr in the third quarter worth about $160,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GRND has been the topic of a number of analyst reports. TD Cowen upped their target price on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Raymond James upped their price objective on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

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.