Sei Investments Co. Sells 14,564 Shares of Grindr Inc. (NYSE:GRND)

Sei Investments Co. cut its holdings in Grindr Inc. (NYSE:GRND) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,695 shares of the company’s stock after selling 14,564 shares during the quarter. Sei Investments Co.’s holdings in Grindr were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Grindr in the 4th quarter worth approximately $101,000. Centiva Capital LP bought a new stake in Grindr in the third quarter valued at $160,000. The Manufacturers Life Insurance Company boosted its holdings 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 in the last quarter. Blueshift Asset Management LLC purchased a new position in Grindr during the 4th quarter valued at $195,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Grindr during the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 target price for the company. Raymond James reiterated an “outperform” rating and issued a $22.00 price target on shares of Grindr in a research note on Thursday, March 6th. Citigroup reissued an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,057 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the transaction, the insider now owns 577,549 shares of the company’s stock, valued at $10,395,882. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 11,173 shares of company stock worth $187,729 over the last quarter. 76.40% of the stock is currently owned by corporate insiders.

Grindr Trading Up 5.6 %

Shares of NYSE GRND opened at $17.87 on Thursday. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -51.04 and a beta of 0.31. The firm has a 50 day moving average of $17.67 and a 200 day moving average of $16.03.

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.