Jump Financial LLC Purchases 48,150 Shares of Grindr Inc. (NYSE:GRND)

Jump Financial LLC lifted its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 68.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,784 shares of the company's stock after acquiring an additional 48,150 shares during the quarter. Jump Financial LLC owned 0.07% of Grindr worth $2,119,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GRND. XTX Topco Ltd acquired a new stake in Grindr during the fourth quarter worth approximately $296,000. Barclays PLC boosted its holdings in shares of Grindr by 30.4% in the 4th quarter. Barclays PLC now owns 94,647 shares of the company's stock valued at $1,689,000 after purchasing an additional 22,067 shares during the last quarter. Sellaronda Global Management LP acquired a new position in shares of Grindr during the 4th quarter valued at $10,704,000. Legal & General Group Plc lifted its holdings in Grindr by 721.8% in the 4th quarter. Legal & General Group Plc now owns 22,673 shares of the company's stock worth $404,000 after buying an additional 19,914 shares in the last quarter. Finally, Polymer Capital Management HK LTD acquired a new position in Grindr in the 4th quarter worth $178,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Grindr Price Performance

Shares of Grindr stock traded up $0.18 during midday trading on Thursday, hitting $20.87. The company had a trading volume of 429,460 shares, compared to its average volume of 948,558. The business's 50 day simple moving average is $17.85 and its two-hundred day simple moving average is $16.49. The stock has a market cap of $4.35 billion, a PE ratio of -59.63 and a beta of 0.31. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $21.06.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the transaction, the insider now directly owns 577,549 shares of the company's stock, valued at $10,395,882. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 8,115 shares of company stock worth $139,397. Insiders own 76.40% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a research report on Monday. Raymond James restated an "outperform" rating and issued a $22.00 target price on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $20.75.

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.