11,602 Shares in Grindr Inc. (NYSE:GRND) Acquired by Schroder Investment Management Group

Schroder Investment Management Group bought a new stake in shares of Grindr Inc. (NYSE:GRND) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,602 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GRND. Norges Bank purchased a new position in shares of Grindr in the 4th quarter worth approximately $6,035,000. BIT Capital GmbH boosted its stake in Grindr by 9.6% in the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company’s stock valued at $71,165,000 after acquiring an additional 349,189 shares in the last quarter. Anthracite Investment Company Inc. purchased a new position in Grindr in the fourth quarter worth $1,802,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Grindr during the 4th quarter valued at $89,000. Finally, Quantbot Technologies LP boosted its position in shares of Grindr by 110.8% in the 4th quarter. Quantbot Technologies LP now owns 115,489 shares of the company’s stock worth $2,060,000 after purchasing an additional 60,704 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 580,606 shares of the company’s stock, valued at approximately $9,521,938.40. This 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 can be accessed through this link. Insiders have sold 11,173 shares of company stock worth $187,729 over the last 90 days. 76.40% of the stock is currently owned by company insiders.

Grindr Trading Down 1.3 %

Shares of NYSE:GRND opened at $16.85 on Wednesday. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20. The company has a market cap of $3.51 billion, a PE ratio of -48.13 and a beta of 0.31. The company’s 50 day moving average is $17.66 and its 200 day moving average is $15.98.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRND shares. The Goldman Sachs Group initiated coverage on Grindr in a research report on Monday, December 16th. They set a “buy” rating and a $20.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Raymond James reissued an “outperform” rating and set a $22.00 target price on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Grindr in a 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.