Quantbot Technologies LP Acquires 60,704 Shares of Grindr Inc. (NYSE:GRND)

Quantbot Technologies LP grew its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 110.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,489 shares of the company's stock after purchasing an additional 60,704 shares during the quarter. Quantbot Technologies LP owned approximately 0.07% of Grindr worth $2,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRND. Lord Abbett & CO. LLC bought a new position in Grindr in the 3rd quarter valued at approximately $7,720,000. Point72 Asset Management L.P. raised its stake in shares of Grindr by 219.9% during the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company's stock valued at $2,145,000 after acquiring an additional 123,600 shares during the last quarter. Skye Global Management LP lifted its holdings in shares of Grindr by 23.3% during the third quarter. Skye Global Management LP now owns 592,000 shares of the company's stock worth $7,063,000 after purchasing an additional 112,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Grindr by 66.7% in the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock worth $2,772,000 after purchasing an additional 93,005 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Grindr in the fourth quarter valued at $1,649,000. 7.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the stock in a transaction dated Monday, January 13th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 11,173 shares of company stock valued at $187,729. 76.40% of the stock is currently owned by company insiders.

Remove Ads

Grindr Stock Performance

Shares of NYSE:GRND traded up $0.05 during midday trading on Thursday, reaching $17.92. The company's stock had a trading volume of 1,389,905 shares, compared to its average volume of 815,693. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.20. The firm has a 50 day moving average price of $17.60 and a two-hundred day moving average price of $15.58. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -51.21 and a beta of 0.30.

Wall Street Analyst Weigh In

Several research analysts have commented on GRND shares. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 target price on shares of Grindr in a report on Thursday, February 6th. The Goldman Sachs Group initiated coverage on Grindr in a research note on Monday, December 16th. They issued a "buy" rating and a $20.00 price objective on the stock. Citigroup reissued 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 target on shares of Grindr in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $20.00.

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.