Grindr Inc. (NYSE:GRND) Shares Sold by Trexquant Investment LP

Trexquant Investment LP lessened its stake in Grindr Inc. (NYSE:GRND - Free Report) by 70.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,342 shares of the company's stock after selling 77,878 shares during the period. Trexquant Investment LP's holdings in Grindr were worth $595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRND. Schroder Investment Management Group acquired a new position in shares of Grindr in the fourth quarter valued at approximately $212,000. Norges Bank purchased a new position in Grindr in the 4th quarter valued at approximately $6,035,000. BIT Capital GmbH grew its stake in shares of Grindr by 9.6% in the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock worth $71,165,000 after acquiring an additional 349,189 shares in the last quarter. Anthracite Investment Company Inc. purchased a new stake in shares of Grindr during the fourth quarter worth $1,802,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr in the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now directly owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,115 shares of company stock worth $139,397 over the last 90 days. Corporate insiders own 76.40% of the company's stock.

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Grindr Price Performance

Shares of Grindr stock traded up $0.04 during trading hours on Wednesday, hitting $18.92. The company had a trading volume of 1,532,094 shares, compared to its average volume of 922,173. The company's 50-day moving average is $17.68 and its two-hundred day moving average is $16.20. The company has a market cap of $3.94 billion, a P/E ratio of -54.06 and a beta of 0.31. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20.

Analysts Set New Price Targets

GRND has been the subject of several recent research reports. Raymond James reiterated an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Finally, Citigroup reaffirmed 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, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $20.00.

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.