Arrowstreet Capital Limited Partnership Decreases Stake in Grindr Inc. (NYSE:GRND)

Arrowstreet Capital Limited Partnership lessened its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 63.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,945 shares of the company's stock after selling 204,200 shares during the period. Arrowstreet Capital Limited Partnership owned 0.07% of Grindr worth $2,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GRND. KLP Kapitalforvaltning AS purchased a new stake in Grindr during the fourth quarter valued at about $89,000. R Squared Ltd bought a new position in Grindr in the 4th quarter worth approximately $101,000. Centiva Capital LP purchased a new position in Grindr in the 3rd quarter valued at approximately $160,000. The Manufacturers Life Insurance Company raised 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 valued at $163,000 after acquiring an additional 1,166 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Grindr during the fourth quarter worth $195,000. Institutional investors own 7.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GRND shares. JMP Securities reiterated a "market outperform" rating and set a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Citigroup reiterated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Raymond James restated an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.00.

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Grindr Trading Up 0.2 %

Shares of GRND traded up $0.04 during trading hours on Wednesday, reaching $18.92. 114,895 shares of the company's stock traded hands, compared to its average volume of 916,653. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $19.20. The stock has a market cap of $3.94 billion, a PE ratio of -54.06 and a beta of 0.31. The firm's 50 day simple moving average is $17.68 and its 200-day simple moving average is $16.20.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction dated 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 $10,395,882. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 7,115 shares of company stock worth $120,997 over the last three months. 76.40% of the stock is owned by insiders.

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.