10,947 Shares in Grindr Inc. (NYSE:GRND) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new position in shares of Grindr Inc. (NYSE:GRND) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,947 shares of the company’s stock, valued at approximately $195,000.

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

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the company’s stock in a transaction on 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 directly owns 577,549 shares in the company, valued at approximately $10,395,882. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is currently owned by insiders.

Grindr Trading Up 1.8 %

Grindr stock opened at $17.33 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -49.51 and a beta of 0.30. The stock has a fifty day moving average price of $17.51 and a 200 day moving average price of $15.45. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Grindr in a report on Thursday, February 6th. The Goldman Sachs Group assumed coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Raymond James reissued an “outperform” rating and issued a $22.00 price target on shares of Grindr in a report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $20.00.

About Grindr

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.