Anthracite Investment Company Inc. purchased a new position in Grindr Inc. (NYSE:GRND - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,985 shares of the company's stock, valued at approximately $1,802,000. Anthracite Investment Company Inc. owned approximately 0.06% of Grindr at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 623 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock worth $163,000 after buying an additional 1,166 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Grindr by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after buying an additional 1,524 shares in the last quarter. Savant Capital LLC raised its position 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 during the last quarter. Finally, Principal Financial Group Inc. lifted its stake 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 acquiring an additional 3,341 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.
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 transaction of $55,026.00. Following the completion of the sale, the insider now owns 577,549 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 11,173 shares of company stock worth $187,729 over the last quarter. Company insiders own 76.40% of the company's stock.
Grindr Stock Down 1.0 %
Shares of GRND traded down $0.18 during trading hours on Friday, hitting $17.72. The company had a trading volume of 1,764,168 shares, compared to its average volume of 839,016. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -50.64 and a beta of 0.30. The business has a fifty day moving average of $17.63 and a 200-day moving average of $15.66. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $19.20.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Raymond James reaffirmed an "outperform" rating and issued a $22.00 target price on shares of Grindr in a report on Thursday, March 6th. Finally, The Goldman Sachs Group initiated coverage on Grindr in a report on Monday, December 16th. They set a "buy" rating and a $20.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grindr presently has an average rating of "Buy" and an average target price of $20.00.
Check Out Our Latest Analysis on GRND
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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