Quinn Opportunity Partners LLC Sells 148,574 Shares of Grindr Inc. (NYSE:GRND)

Quinn Opportunity Partners LLC trimmed its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 52.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 136,460 shares of the company's stock after selling 148,574 shares during the quarter. Quinn Opportunity Partners LLC owned about 0.08% of Grindr worth $2,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after acquiring an additional 642 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Grindr during the fourth quarter valued at $89,000. R Squared Ltd bought a new stake in Grindr in the 4th quarter worth about $101,000. Centiva Capital LP bought a new position in Grindr during the 3rd quarter valued at about $160,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock valued at $163,000 after acquiring an additional 1,166 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Grindr Stock Performance

Shares of GRND traded down $0.20 during mid-day trading on Wednesday, reaching $18.68. The stock had a trading volume of 749,254 shares, compared to its average volume of 1,692,936. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -53.37 and a beta of 0.31. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $19.20. The business has a fifty day moving average of $17.68 and a 200 day moving average of $16.20.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on GRND shares. Raymond James restated an "outperform" rating and issued a $22.00 target price on shares of Grindr in a report on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Grindr in a report on Thursday, February 6th. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.00.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now owns 613,800 shares in the company, valued at $9,961,974. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 7,115 shares of company stock worth $120,997. Corporate insiders own 76.40% of the company's stock.

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.