ExodusPoint Capital Management LP lessened its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 57.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,028 shares of the company's stock after selling 71,697 shares during the period. ExodusPoint Capital Management LP's holdings in Grindr were worth $964,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Grindr by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after buying an additional 623 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after purchasing an additional 1,524 shares in the last quarter. Savant Capital LLC grew its position in Grindr by 9.6% during the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after purchasing an additional 1,689 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Grindr by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 33,919 shares of the company's stock valued at $605,000 after purchasing an additional 3,341 shares in the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GRND has been the topic of several analyst reports. The Goldman Sachs Group began coverage on shares of Grindr in a research note on Monday, December 16th. They issued a "buy" rating and a $20.00 target price on the stock. Raymond James reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Grindr in a report on Thursday, February 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $20.00.
View Our Latest Analysis on Grindr
Insider Transactions at Grindr
In other Grindr news, insider Zachary Katz sold 3,058 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the transaction, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,115 shares of company stock worth $120,997 in the last ninety days. Insiders own 76.40% of the company's stock.
Grindr Trading Up 3.4 %
NYSE:GRND traded up $0.62 during trading hours on Tuesday, reaching $18.78. The company had a trading volume of 725,302 shares, compared to its average volume of 912,620. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -53.66 and a beta of 0.31. The firm's 50 day moving average price is $17.66 and its 200-day moving average price is $16.18. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20.
Grindr Profile
(
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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