Sellaronda Global Management LP purchased a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 600,000 shares of the company's stock, valued at approximately $10,704,000. Grindr comprises approximately 10.8% of Sellaronda Global Management LP's investment portfolio, making the stock its 4th biggest holding. Sellaronda Global Management LP owned approximately 0.34% of Grindr as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares during the last quarter. Russell Investments Group Ltd. raised its position in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after acquiring an additional 642 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Grindr by 9.3% in the third 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. Bleakley Financial Group LLC boosted its stake in Grindr by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock valued at $512,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Grindr by 9.6% during the 4th 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 period. 7.22% of the stock is owned by institutional investors.
Grindr Stock Performance
GRND stock traded up $0.52 during midday trading on Friday, reaching $18.07. 2,307,680 shares of the company's stock traded hands, compared to its average volume of 907,602. The firm has a market capitalization of $3.76 billion, a PE ratio of -51.63 and a beta of 0.31. The company has a 50-day moving average price of $17.66 and a two-hundred day moving average price of $16.11. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Grindr in a report on Thursday, February 6th. Citigroup restated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James reiterated an "outperform" rating and set a $22.00 price target on shares of Grindr in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group began 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Grindr presently has a consensus rating of "Buy" and an average target price of $20.00.
View Our Latest Research Report on Grindr
Insider Activity
In other news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $16.40, for a total value of $50,151.20. Following the completion of the transaction, the insider now directly owns 580,606 shares in the company, valued at approximately $9,521,938.40. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is owned by corporate insiders.
Grindr Company Profile
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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.
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