Harvest Fund Management Co. Ltd Acquires New Shares in Grindr Inc. (NYSE:GRND)

Harvest Fund Management Co. Ltd bought a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 53,104 shares of the company's stock, valued at approximately $947,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GRND. JPMorgan Chase & Co. raised its stake in shares of Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock valued at $2,772,000 after purchasing an additional 93,005 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Grindr by 219.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company's stock worth $2,145,000 after acquiring an additional 123,600 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Grindr by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company's stock worth $2,287,000 after acquiring an additional 17,678 shares during the period. Graypoint LLC acquired a new stake in shares of Grindr in the 4th quarter worth approximately $1,211,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Grindr during the third quarter valued at approximately $365,000. Institutional investors own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRND. JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They set a "buy" rating and a $20.00 target price for the company. Raymond James reiterated an "outperform" rating and issued a $22.00 price target on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $20.00.

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Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at $9,961,974. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 11,173 shares of company stock valued at $187,729. Company insiders own 76.40% of the company's stock.

Grindr Price Performance

NYSE GRND traded up $0.04 on Tuesday, hitting $18.16. 2,078,386 shares of the stock were exchanged, compared to its average volume of 800,790. The company's 50-day moving average price is $17.55 and its two-hundred day moving average price is $15.52. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -51.89 and a beta of 0.30. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $19.20.

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.