AlphaQuest LLC Decreases Stock Holdings in Grindr Inc. (NYSE:GRND)

AlphaQuest LLC trimmed its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 84.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,386 shares of the company's stock after selling 40,989 shares during the quarter. AlphaQuest LLC's holdings in Grindr were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock valued at $163,000 after buying an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC grew 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 buying an additional 1,524 shares during the last quarter. Savant Capital LLC boosted 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 purchasing an additional 1,689 shares during the period. Finally, Principal Financial Group Inc. boosted 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 purchasing an additional 3,341 shares during the period. 7.22% of the stock is owned by institutional investors.

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Insider Buying and Selling 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 transaction of $55,026.00. Following the completion of the sale, the insider now directly owns 577,549 shares in the company, valued at approximately $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 11,173 shares of company stock valued at $187,729 in the last three months. 76.40% of the stock is currently owned by corporate insiders.

Grindr Stock Up 1.8 %

GRND traded up $0.31 during midday trading on Friday, hitting $17.33. 2,198,530 shares of the company traded hands, compared to its average volume of 795,695. The company's 50-day moving average is $17.50 and its 200 day moving average is $15.39. The firm has a market capitalization of $3.61 billion, a PE ratio of -49.51 and a beta of 0.30. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20.

Analysts Set New Price Targets

Several brokerages recently commented on GRND. The Goldman Sachs Group initiated coverage on shares of Grindr in a research note on Monday, December 16th. They issued a "buy" rating and a $20.00 price objective for the company. Raymond James reiterated an "outperform" rating and set a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Citigroup reissued an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grindr presently has a consensus rating of "Buy" and a consensus target price of $20.00.

Grindr Profile

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.