Quest Partners LLC Has $577,000 Stock Holdings in Grindr Inc. (NYSE:GRND)

Quest Partners LLC grew its stake in Grindr Inc. (NYSE:GRND) by 277.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,375 shares of the company’s stock after purchasing an additional 35,558 shares during the quarter. Quest Partners LLC’s holdings in Grindr were worth $577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Grindr by 5.7% in the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after buying an additional 30,574 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after purchasing an additional 1,667 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Grindr in the second quarter worth $303,000. SG Americas Securities LLC bought a new position in shares of Grindr during the second quarter worth $718,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Grindr in the 2nd quarter valued at $670,000. 7.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the sale, the insider now directly owns 586,722 shares in the company, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Fu Bin Lu sold 195,600 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total transaction of $2,814,684.00. Following the transaction, the director now owns 34,977,181 shares of the company’s stock, valued at $503,321,634.59. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 296,549 shares of company stock valued at $4,195,896 in the last 90 days. 76.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GRND. TD Cowen raised their price objective on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Raymond James boosted their price objective on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Grindr Trading Up 0.7 %

GRND opened at $15.04 on Friday. The firm’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $11.74. The stock has a market capitalization of $2.66 billion, a P/E ratio of -42.96 and a beta of 0.33. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.21.

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.