Grindr Inc. (NYSE:GRND) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in shares of Grindr Inc. (NYSE:GRND) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,712 shares of the company’s stock after buying an additional 1,524 shares during the quarter. Bleakley Financial Group LLC’s holdings in Grindr were worth $512,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Grindr during the third quarter valued at $27,000. R Squared Ltd acquired a new stake in Grindr during the fourth quarter valued at $101,000. Centiva Capital LP purchased a new position in Grindr during the third quarter valued at $160,000. The Manufacturers Life Insurance Company lifted its holdings in Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after purchasing an additional 1,166 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in Grindr during the third quarter valued at $225,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Trading Down 0.9 %

NYSE:GRND opened at $17.97 on Tuesday. The company’s 50-day moving average price is $17.15 and its 200-day moving average price is $14.29. The company has a market cap of $3.17 billion, a P/E ratio of -51.33 and a beta of 0.30. Grindr Inc. has a twelve month low of $7.93 and a twelve month high of $18.42.

Insider Transactions at Grindr

In other Grindr news, CFO Vandana Mehta-Krantz sold 60,776 shares of Grindr stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.29, for a total transaction of $868,489.04. Following the transaction, the chief financial officer now directly owns 722,126 shares of the company’s stock, valued at $10,319,180.54. The trade was a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the transaction, the insider now directly owns 580,606 shares in the company, valued at $9,521,938.40. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,389,000 shares of company stock valued at $36,153,532. Corporate insiders own 76.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GRND. The Goldman Sachs Group began coverage on shares of Grindr in a report on Monday, December 16th. They set a “buy” rating and a $20.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a report on Thursday, February 6th. TD Cowen increased their price objective on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Grindr in a report on Friday, January 24th.

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.