Swiss National Bank Acquires New Shares in Grindr Inc. (NYSE:GRND)

Swiss National Bank bought a new stake in Grindr Inc. (NYSE:GRND) in the 4th quarter, Holdings Channel reports. The institutional investor bought 51,900 shares of the company’s stock, valued at approximately $926,000.

Several other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in shares of Grindr in the 3rd quarter worth approximately $321,000. Charles Schwab Investment Management Inc. boosted its position in Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after acquiring an additional 17,678 shares during the last quarter. Algert Global LLC bought a new stake in Grindr during the third quarter valued at $830,000. The Manufacturers Life Insurance Company grew its holdings in Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after acquiring an additional 1,166 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of Grindr by 262.2% in the 3rd quarter. Quantbot Technologies LP now owns 54,785 shares of the company’s stock valued at $654,000 after purchasing an additional 39,660 shares during the period. 7.22% of the stock is currently owned by institutional investors.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction 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 sale, the insider now directly owns 613,800 shares in the company, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 11,173 shares of company stock worth $187,729 in the last 90 days. Insiders own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GRND shares. Raymond James reiterated an “outperform” rating and set a $22.00 price objective 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 price target on the stock. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a report on Thursday, February 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Grindr currently has an average rating of “Buy” and a consensus target price of $20.00.

Grindr Trading Down 1.0 %

Shares of Grindr stock opened at $17.72 on Friday. The stock has a fifty day simple moving average of $17.63 and a 200 day simple moving average of $15.66. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The company has a market capitalization of $3.69 billion, a P/E ratio of -50.64 and a beta of 0.30.

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.