Quantbot Technologies LP Buys 39,660 Shares of Grindr Inc. (NYSE:GRND)

Quantbot Technologies LP boosted its position in Grindr Inc. (NYSE:GRND) by 262.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,785 shares of the company’s stock after purchasing an additional 39,660 shares during the period. Quantbot Technologies LP’s holdings in Grindr were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GRND. nVerses Capital LLC purchased a new position in shares of Grindr in the third quarter worth about $27,000. Point72 DIFC Ltd purchased a new stake in shares of Grindr during the second quarter worth $136,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares during the period. Quest Partners LLC boosted its holdings in shares of Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after acquiring an additional 12,677 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Grindr by 9.3% in 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. Institutional investors own 7.22% of the company’s stock.

Grindr Stock Performance

NYSE:GRND opened at $15.16 on Tuesday. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -43.69 and a beta of 0.33. The stock has a fifty day moving average of $13.45 and a 200 day moving average of $11.93. Grindr Inc. has a 52-week low of $6.72 and a 52-week high of $15.44.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRND. Raymond James lifted their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 8th. TD Cowen boosted their price objective 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.

Insider Activity

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

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.