Dynamic Technology Lab Private Ltd Acquires Shares of 67,146 Grindr Inc. (NYSE:GRND)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 67,146 shares of the company's stock, valued at approximately $801,000.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Grindr during the third quarter worth approximately $27,000. Point72 DIFC Ltd acquired a new stake in shares of Grindr in the second quarter valued at about $136,000. Price T Rowe Associates Inc. MD raised its position in shares of Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company's stock valued at $120,000 after buying an additional 1,667 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company's stock worth $157,000 after buying an additional 12,677 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Grindr during the second quarter worth about $189,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In related news, CAO Kye Chen sold 4,964 shares of Grindr stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $11.81, for a total value of $58,624.84. Following the completion of the sale, the chief accounting officer now owns 130,598 shares in the company, valued at approximately $1,542,362.38. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nathan Richardson sold 5,234 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.00, for a total value of $78,510.00. Following the transaction, the director now owns 27,408 shares of the company's stock, valued at approximately $411,120. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 296,549 shares of company stock worth $4,195,896 in the last ninety days. 76.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Grindr from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Raymond James increased their price target on Grindr from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, November 8th.

Grindr Price Performance

Shares of GRND traded down $0.07 during mid-day trading on Thursday, reaching $15.00. The stock had a trading volume of 552,831 shares, compared to its average volume of 530,565. Grindr Inc. has a 52-week low of $6.12 and a 52-week high of $15.39. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -42.86 and a beta of 0.33. The business's fifty day moving average is $13.34 and its 200 day moving average is $11.85.

Grindr Company 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.