Grindr Inc. (NYSE:GRND) Holdings Lowered by GSA Capital Partners LLP

GSA Capital Partners LLP cut its position in Grindr Inc. (NYSE:GRND - Free Report) by 82.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,491 shares of the company's stock after selling 173,127 shares during the quarter. GSA Capital Partners LLP's holdings in Grindr were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Grindr in the 2nd quarter worth about $718,000. Yarra Square Partners LP purchased a new position in shares of Grindr during the second quarter valued at approximately $3,005,000. Federated Hermes Inc. acquired a new stake in Grindr during the second quarter worth approximately $3,640,000. Point72 Asset Management L.P. acquired a new position in Grindr in the 2nd quarter valued at $688,000. Finally, Discovery Capital Management LLC CT acquired a new position in shares of Grindr during the 2nd quarter valued at about $3,179,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Price Performance

NYSE:GRND opened at $14.68 on Thursday. Grindr Inc. has a 1 year low of $6.12 and a 1 year high of $15.21. The business has a fifty day moving average of $13.05 and a 200-day moving average of $11.69.

Analysts Set New Price Targets

A number of research firms have recently commented on GRND. TD Cowen raised their price objective on Grindr from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Raymond James raised their price objective on Grindr from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, November 8th.

Insider Activity at Grindr

In other news, CAO Kye Chen sold 16,187 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.68, for a total value of $189,064.16. Following the sale, the chief accounting officer now owns 138,604 shares of the company's stock, valued at approximately $1,618,894.72. The trade was a 10.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Fu Bin Lu sold 195,600 shares of Grindr stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the transaction, the director now directly owns 34,977,181 shares in the company, valued at approximately $503,321,634.59. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 296,549 shares of company stock worth $4,195,896 in the last 90 days. Corporate insiders own 76.40% of the company's stock.

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.