14,081 Shares in Grindr Inc. (NYSE:GRND) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,081 shares of the company's stock, valued at approximately $251,000.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of Grindr during the 3rd quarter worth approximately $321,000. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 17,678 shares in the last quarter. Algert Global LLC acquired a new stake in Grindr in the third quarter worth $830,000. Dynamic Technology Lab Private Ltd bought a new stake in Grindr in the third quarter valued at $801,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 1,166 shares during the period. 7.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Zachary Katz sold 3,057 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total transaction of $55,026.00. Following the transaction, the insider now directly owns 577,549 shares of the company's stock, valued at $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is owned by corporate insiders.

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Grindr Stock Performance

GRND traded down $0.18 during midday trading on Friday, reaching $17.72. 1,764,168 shares of the company were exchanged, compared to its average volume of 839,016. Grindr Inc. has a one year low of $8.95 and a one year high of $19.20. The company's fifty day moving average price is $17.63 and its 200 day moving average price is $15.69. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -50.64 and a beta of 0.30.

Analyst Ratings Changes

Several brokerages have recently commented on GRND. Raymond James restated an "outperform" rating and issued a $22.00 target price on shares of Grindr in a research note on Thursday, March 6th. 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 report on Monday, December 16th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price 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.