Landscape Capital Management L.L.C. purchased a new stake in Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 152,035 shares of the company's stock, valued at approximately $2,712,000. Landscape Capital Management L.L.C. owned approximately 0.09% of Grindr at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after acquiring an additional 623 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 worth $163,000 after acquiring an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of 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 during the period. Savant Capital LLC boosted its position in Grindr by 9.6% during the fourth quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of 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 currently owned by institutional investors and hedge funds.
Grindr Stock Performance
Shares of Grindr stock traded down $0.03 during mid-day trading on Wednesday, hitting $16.90. 589,068 shares of the stock were exchanged, compared to its average volume of 877,826. The company has a market capitalization of $3.52 billion, a P/E ratio of -48.29 and a beta of 0.31. The company has a 50-day simple moving average of $17.66 and a 200 day simple moving average of $15.98. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $19.20.
Insiders Place Their Bets
In other Grindr news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total value of $55,026.00. Following the sale, the insider now owns 577,549 shares of the company's stock, valued at approximately $10,395,882. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 11,173 shares of company stock valued at $187,729. Insiders own 76.40% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of Grindr in a report on Monday, December 16th. They issued a "buy" rating and a $20.00 price target for the company. Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities reiterated a "market outperform" rating and set a $21.00 price target on shares of Grindr in a research note on Thursday, February 6th. Finally, Raymond James reissued an "outperform" rating and set a $22.00 price objective on shares of Grindr in a report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $20.00.
Check Out Our Latest Stock Analysis on GRND
Grindr Company 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.
Recommended Stories
Before you consider Grindr, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grindr wasn't on the list.
While Grindr currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
