Graypoint LLC purchased a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,899 shares of the company's stock, valued at approximately $1,211,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC increased its position in Grindr by 9,055.0% during the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company's stock worth $157,000 after buying an additional 12,677 shares during the period. Cornercap Investment Counsel Inc. bought a new position in Grindr during the second quarter worth about $670,000. Federated Hermes Inc. acquired a new stake in Grindr in the 2nd quarter worth about $3,640,000. Hsbc Holdings PLC boosted its holdings in Grindr by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company's stock valued at $286,000 after purchasing an additional 2,050 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Grindr during the 2nd quarter worth approximately $371,000. Institutional investors own 7.22% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on GRND. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They issued a "buy" rating and a $20.00 price target for the company. Raymond James boosted their target price on shares of Grindr from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. TD Cowen increased their price target on shares of Grindr from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Grindr in a research report on Monday, December 16th.
Check Out Our Latest Stock Analysis on GRND
Insider Transactions at Grindr
In other Grindr news, CFO Vandana Mehta-Krantz sold 60,776 shares of Grindr stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total value of $868,489.04. Following the completion of the sale, the chief financial officer now directly owns 722,126 shares in the company, valued at approximately $10,319,180.54. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the transaction, the insider now directly owns 586,722 shares in the company, valued at approximately $8,390,124.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,395,942 shares of company stock worth $36,249,481 over the last ninety days. 76.40% of the stock is owned by insiders.
Grindr Stock Performance
Shares of NYSE:GRND traded down $0.60 during mid-day trading on Friday, reaching $16.72. 892,583 shares of the company's stock were exchanged, compared to its average volume of 937,130. Grindr Inc. has a twelve month low of $7.93 and a twelve month high of $18.42. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -47.77 and a beta of 0.31. The business's fifty day moving average price is $15.98 and its 200-day moving average price is $13.45.
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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