Barclays PLC Grows Holdings in Grindr Inc. (NYSE:GRND)

Barclays PLC raised its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 106.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,580 shares of the company's stock after acquiring an additional 37,477 shares during the period. Barclays PLC's holdings in Grindr were worth $865,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Grindr during the third quarter valued at approximately $27,000. Point72 DIFC Ltd bought a new position in Grindr in the 2nd quarter valued at $136,000. Quest Partners LLC increased its position in shares of Grindr by 9,055.0% during the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company's stock valued at $157,000 after purchasing an additional 12,677 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Grindr during the 3rd quarter worth $160,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Grindr by 9.3% in the 3rd 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 last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the completion of the transaction, the insider now directly owns 586,722 shares of the company's stock, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Fu Bin Lu sold 750,000 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the transaction, the director now owns 31,540,655 shares of the company's stock, valued at $477,525,516.70. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,405,870 shares of company stock worth $36,366,731. 76.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GRND shares. JMP Securities restated a "market outperform" rating and set a $21.00 price target on shares of Grindr in a research note on Monday, December 16th. TD Cowen increased their price objective on Grindr from $14.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. The Goldman Sachs Group started coverage on Grindr in a research note on Monday, December 16th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, Raymond James increased their price target on Grindr from $16.00 to $19.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th.

Grindr Stock Performance

GRND stock traded down $0.39 during midday trading on Wednesday, reaching $17.84. 752,347 shares of the company's stock traded hands, compared to its average volume of 563,516. The firm has a market capitalization of $3.15 billion, a PE ratio of -50.97 and a beta of 0.37. The company has a 50-day moving average price of $15.41 and a two-hundred day moving average price of $13.08. Grindr Inc. has a 52 week low of $7.93 and a 52 week high of $18.42.

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.