Shares of Grindr Inc. (NYSE:GRND – Get Free Report) traded up 2.6% on Thursday following insider buying activity. The company traded as high as $5.58 and last traded at $5.56. 136,969 shares traded hands during trading, a decline of 45% from the average session volume of 248,792 shares. The stock had previously closed at $5.42.
Specifically, Director George Raymond Zage III purchased 30,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were acquired at an average price of $5.17 per share, with a total value of $155,100.00. Following the acquisition, the director now directly owns 5,490,000 shares in the company, valued at $28,383,300. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 125,000 shares of company stock valued at $657,550 over the last three months. 78.20% of the stock is owned by company insiders.
Grindr Trading Up 10.7 %
The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 15.41. The business has a fifty day moving average of $5.50 and a 200-day moving average of $5.94.
Institutional Trading of Grindr
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Grindr by 567.8% during the second quarter. BlackRock Inc. now owns 2,179,483 shares of the company’s stock valued at $12,053,000 after purchasing an additional 1,853,136 shares in the last quarter. State Street Corp boosted its holdings in shares of Grindr by 2,186.0% during the 2nd quarter. State Street Corp now owns 891,524 shares of the company’s stock valued at $4,930,000 after buying an additional 852,524 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Grindr by 133.2% in the 2nd quarter. Geode Capital Management LLC now owns 611,119 shares of the company’s stock worth $3,379,000 after buying an additional 349,012 shares during the period. Northern Trust Corp increased its stake in shares of Grindr by 649.9% in the 2nd quarter. Northern Trust Corp now owns 332,455 shares of the company’s stock worth $1,838,000 after acquiring an additional 288,124 shares in the last quarter. Finally, Boston Partners purchased a new position in Grindr during the 1st quarter valued at about $893,000. 6.77% of the stock is owned by institutional investors.
About Grindr
Grindr Inc operates social network platform for the LGBTQ community. Its platform enables gay, bisexual, transgender, and queer people to find and engage with each other, share content and experiences, and express themselves. It offers ad-supported service and a premium subscription version; and manages Blendr, a dating service application.
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