Jane Street Group LLC Has $1.76 Million Position in Grindr Inc. (NYSE:GRND)

Jane Street Group LLC reduced its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 28.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,231 shares of the company's stock after selling 59,316 shares during the quarter. Jane Street Group LLC owned about 0.08% of Grindr worth $1,756,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Petrus Trust Company LTA raised its holdings in shares of Grindr by 330.7% during the third quarter. Petrus Trust Company LTA now owns 60,312 shares of the company's stock valued at $720,000 after buying an additional 46,309 shares during the last quarter. Point72 Asset Management L.P. increased its position in Grindr by 219.9% in the 3rd 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 period. Centiva Capital LP acquired a new position in Grindr during the 3rd quarter worth $160,000. PDT Partners LLC bought a new position in shares of Grindr in the third quarter worth $225,000. Finally, Verition Fund Management LLC grew its stake in shares of Grindr by 17.8% in the third quarter. Verition Fund Management LLC now owns 75,158 shares of the company's stock worth $897,000 after purchasing an additional 11,381 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Grindr news, insider Zachary Katz sold 3,058 shares of the business'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 sale, the insider now owns 586,722 shares of the company's stock, valued at $8,390,124.60. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 value of $11,355,000.00. Following the completion of the sale, the director now directly owns 31,540,655 shares in the company, valued at approximately $477,525,516.70. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,405,870 shares of company stock worth $36,366,731. Corporate insiders own 76.40% of the company's stock.

Grindr Stock Performance

Shares of Grindr stock traded up $0.45 during trading on Thursday, hitting $18.17. 950,540 shares of the stock traded hands, compared to its average volume of 559,922. The stock has a market cap of $3.21 billion, a P/E ratio of -51.91 and a beta of 0.37. The company has a fifty day moving average price of $15.01 and a two-hundred day moving average price of $12.82. Grindr Inc. has a twelve month low of $7.93 and a twelve month high of $18.26.

Analyst Upgrades and Downgrades

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

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.