Grindr Inc. (NYSE:GRND) Stake Boosted by Barclays PLC

Barclays PLC grew its holdings in Grindr Inc. (NYSE:GRND) by 106.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,580 shares of the company’s stock after acquiring an additional 37,477 shares during the period. Barclays PLC’s holdings in Grindr were worth $865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in Grindr by 219.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after buying an additional 123,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 17,678 shares in the last quarter. Yarra Square Partners LP bought a new stake in Grindr in the second quarter valued at $3,005,000. Federated Hermes Inc. acquired a new stake in shares of Grindr during the 2nd quarter worth about $3,640,000. Finally, Algert Global LLC acquired a new position in shares of Grindr in the 3rd quarter worth approximately $830,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Price Performance

Grindr stock opened at $17.84 on Wednesday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -50.97 and a beta of 0.37. Grindr Inc. has a one year low of $7.93 and a one year high of $18.42. The firm has a 50-day moving average of $15.23 and a 200-day moving average of $12.99.

Insider Activity

In other Grindr news, CAO Kye Chen sold 4,964 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $11.81, for a total value of $58,624.84. Following the completion of the sale, the chief accounting officer now owns 130,598 shares of the company’s stock, valued at $1,542,362.38. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Fu Bin Lu sold 750,000 shares of Grindr stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total value of $11,355,000.00. Following the completion of the transaction, the director now directly owns 31,540,655 shares of the company’s stock, valued at $477,525,516.70. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,405,870 shares of company stock valued at $36,366,731. 76.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Grindr in a report on Monday, December 16th. Raymond James raised their price target on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, TD Cowen lifted their price target on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

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.