Quantbot Technologies LP Purchases 39,660 Shares of Grindr Inc. (NYSE:GRND)

Quantbot Technologies LP increased its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 262.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,785 shares of the company's stock after buying an additional 39,660 shares during the quarter. Quantbot Technologies LP's holdings in Grindr were worth $654,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of Grindr by 124.0% during the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company's stock valued at $7,685,000 after acquiring an additional 347,626 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Grindr by 5.7% during the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company's stock valued at $5,778,000 after purchasing an additional 30,574 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Grindr during the second quarter worth about $3,640,000. Squarepoint Ops LLC increased its stake in shares of Grindr by 264.4% in the second quarter. Squarepoint Ops LLC now owns 260,814 shares of the company's stock valued at $3,192,000 after buying an additional 189,237 shares during the period. Finally, Discovery Capital Management LLC CT bought a new position in Grindr in the 2nd quarter valued at approximately $3,179,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on GRND shares. Raymond James upped their price target on shares of Grindr from $16.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. TD Cowen lifted their target price on Grindr from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th.

Grindr Price Performance

Shares of GRND traded up $0.14 during trading hours on Tuesday, hitting $15.30. 742,997 shares of the stock were exchanged, compared to its average volume of 533,797. The firm has a market capitalization of $2.70 billion, a P/E ratio of -43.97 and a beta of 0.37. Grindr Inc. has a fifty-two week low of $6.72 and a fifty-two week high of $15.50. The business has a 50-day moving average of $13.52 and a 200-day moving average of $11.97.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the completion of the transaction, the insider now directly owns 586,722 shares in the company, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kye Chen sold 16,187 shares of the company's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $11.68, for a total transaction of $189,064.16. Following the completion of the sale, the chief accounting officer now owns 138,604 shares in the company, valued at $1,618,894.72. This represents a 10.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 296,549 shares of company stock worth $4,195,896. 76.40% of the stock is owned by corporate insiders.

About Grindr

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.