Swiss National Bank acquired a new stake in Grindr Inc. (NYSE:GRND - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,900 shares of the company's stock, valued at approximately $926,000.
A number of other hedge funds also recently made changes to their positions in GRND. Bank of New York Mellon Corp lifted its position in Grindr by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after acquiring an additional 623 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock worth $163,000 after purchasing an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after purchasing an additional 1,524 shares during the period. Savant Capital LLC grew its holdings in Grindr by 9.6% in the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after buying an additional 1,689 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Grindr by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 33,919 shares of the company's stock valued at $605,000 after buying an additional 3,341 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GRND. Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. The Goldman Sachs Group started coverage on shares of Grindr in a report on Monday, December 16th. They issued a "buy" rating and a $20.00 price objective for the company. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 target price on shares of Grindr in a report on Thursday, February 6th. Finally, Raymond James reiterated an "outperform" rating and issued a $22.00 price target on shares of Grindr in a research note on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Grindr has a consensus rating of "Buy" and a consensus target price of $20.00.
View Our Latest Analysis on Grindr
Grindr Trading Up 1.1 %
Grindr stock traded up $0.21 during trading hours on Wednesday, reaching $18.71. 1,489,734 shares of the stock were exchanged, compared to its average volume of 852,212. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20. The company has a market cap of $3.90 billion, a P/E ratio of -53.46 and a beta of 0.30. The stock has a 50 day moving average of $17.71 and a two-hundred day moving average of $15.80.
Insider Transactions at Grindr
In other news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the transaction, the insider now owns 577,549 shares in the company, valued at approximately $10,395,882. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 11,173 shares of company stock valued at $187,729. Company insiders own 76.40% of the company's stock.
About Grindr
(
Free Report)
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.
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