BIT Capital GmbH Has $71.17 Million Stock Holdings in Grindr Inc. (NYSE:GRND)

BIT Capital GmbH increased its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,989,058 shares of the company's stock after buying an additional 349,189 shares during the period. Grindr comprises approximately 5.6% of BIT Capital GmbH's portfolio, making the stock its 3rd largest position. BIT Capital GmbH owned 2.26% of Grindr worth $71,165,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GRND. Victory Capital Management Inc. acquired a new position in shares of Grindr in the third quarter worth approximately $321,000. Charles Schwab Investment Management Inc. increased its position in shares of Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company's stock worth $2,287,000 after buying an additional 17,678 shares during the period. Algert Global LLC bought a new position in Grindr during the third quarter worth $830,000. Dynamic Technology Lab Private Ltd acquired a new position in Grindr in the third quarter valued at $801,000. Finally, The Manufacturers Life Insurance Company boosted its position in Grindr by 9.3% during the third 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 last quarter. Institutional investors own 7.22% of the company's stock.

Grindr Price Performance

Shares of Grindr stock traded up $0.27 during trading hours on Monday, hitting $18.00. 714,166 shares of the company's stock traded hands, compared to its average volume of 838,842. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -51.40 and a beta of 0.30. The company has a fifty day simple moving average of $17.63 and a 200-day simple moving average of $15.69. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20.

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Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the transaction, the insider now owns 580,606 shares of the company's stock, valued at $9,521,938.40. This represents a 0.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 11,173 shares of company stock worth $187,729. Insiders own 76.40% of the company's stock.

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.