Charles Schwab Investment Management Inc. Purchases 17,678 Shares of Grindr Inc. (NYSE:GRND)

Charles Schwab Investment Management Inc. lifted its stake in shares of Grindr Inc. (NYSE:GRND) by 10.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 191,686 shares of the company’s stock after buying an additional 17,678 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Grindr were worth $2,287,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Marshall Wace LLP grew its position in Grindr by 124.0% in the 2nd quarter. Marshall Wace LLP now owns 627,879 shares of the company’s stock valued at $7,685,000 after purchasing an additional 347,626 shares during the period. Vanguard Group Inc. grew its position in Grindr by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after purchasing an additional 30,574 shares during the period. Federated Hermes Inc. acquired a new stake in Grindr in the 2nd quarter valued at $3,640,000. Squarepoint Ops LLC grew its position in Grindr by 264.4% in the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock valued at $3,192,000 after purchasing an additional 189,237 shares during the period. Finally, Discovery Capital Management LLC CT acquired a new stake in Grindr in the 2nd quarter valued at $3,179,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the completion of the transaction, the insider now owns 586,722 shares of the company’s stock, valued at approximately $8,390,124.60. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Fu Bin Lu sold 692,211 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $15.37, for a total value of $10,639,283.07. Following the transaction, the director now directly owns 32,968,400 shares of the company’s stock, valued at $506,724,308. The trade was a 2.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,405,870 shares of company stock valued at $36,366,731 in the last quarter. 76.40% of the stock is currently owned by corporate insiders.

Grindr Stock Performance

Shares of Grindr stock opened at $15.74 on Monday. Grindr Inc. has a 52-week low of $7.83 and a 52-week high of $16.31. The stock’s 50-day simple moving average is $14.17 and its 200 day simple moving average is $12.36. The stock has a market capitalization of $2.78 billion, a P/E ratio of -44.97 and a beta of 0.37.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GRND. Raymond James lifted their price objective on shares of Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. TD Cowen lifted their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

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.