Algert Global LLC Buys Shares of 69,610 Grindr Inc. (NYSE:GRND)

Algert Global LLC purchased a new position in shares of Grindr Inc. (NYSE:GRND) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 69,610 shares of the company’s stock, valued at approximately $830,000.

A number of other hedge funds have also made changes to their positions in the stock. Marshall Wace LLP grew its holdings in Grindr by 124.0% during the second 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 last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 30,574 shares during the last quarter. Federated Hermes Inc. bought a new position in Grindr in the 2nd quarter worth $3,640,000. Squarepoint Ops LLC lifted its position in Grindr by 264.4% during the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company’s stock worth $3,192,000 after acquiring an additional 189,237 shares during the last quarter. Finally, Discovery Capital Management LLC CT bought a new stake in Grindr during the second quarter valued at about $3,179,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Performance

NYSE GRND opened at $15.09 on Friday. Grindr Inc. has a twelve month low of $6.62 and a twelve month high of $15.44. The stock has a market cap of $2.67 billion, a PE ratio of -43.11 and a beta of 0.33. The firm has a 50-day simple moving average of $13.39 and a 200 day simple moving average of $11.87.

Analyst Upgrades and Downgrades

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

Insider Transactions at Grindr

In related news, Director Nathan Richardson sold 4,766 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $15.00, for a total value of $71,490.00. Following the completion of the transaction, the director now owns 22,642 shares of the company’s stock, valued at $339,630. This represents a 17.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,549 shares of company stock valued at $4,195,896. 76.40% of the stock is owned by corporate insiders.

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.