Grindr Inc. (NYSE:GRND) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP grew its position in shares of Grindr Inc. (NYSE:GRND) by 110.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 115,489 shares of the company’s stock after purchasing an additional 60,704 shares during the quarter. Quantbot Technologies LP’s holdings in Grindr were worth $2,060,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GRND. Lord Abbett & CO. LLC acquired a new position in shares of Grindr during the 3rd quarter valued at $7,720,000. Point72 Asset Management L.P. increased its position in shares of Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after purchasing an additional 123,600 shares during the period. Skye Global Management LP increased its position in shares of Grindr by 23.3% during the 3rd quarter. Skye Global Management LP now owns 592,000 shares of the company’s stock valued at $7,063,000 after purchasing an additional 112,000 shares during the period. JPMorgan Chase & Co. increased its position in shares of Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after purchasing an additional 93,005 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Grindr during the 4th quarter valued at $1,649,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRND has been the topic of several research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research report on Thursday, February 6th. Raymond James restated an “outperform” rating and issued a $22.00 target price on shares of Grindr in a report on Thursday, March 6th. The Goldman Sachs Group started coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Citigroup restated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity

In related news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction on Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the completion of the sale, the insider now owns 580,606 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is owned by corporate insiders.

Grindr Trading Up 1.8 %

Shares of GRND stock opened at $17.33 on Monday. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $19.20. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -49.51 and a beta of 0.30. The stock’s fifty day simple moving average is $17.51 and its 200-day simple moving average is $15.47.

Grindr 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.