Verition Fund Management LLC Raises Stake in Grindr Inc. (NYSE:GRND)

Verition Fund Management LLC grew its holdings in shares of Grindr Inc. (NYSE:GRND) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 75,158 shares of the company’s stock after purchasing an additional 11,381 shares during the period. Verition Fund Management LLC’s holdings in Grindr were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Grindr by 5.7% during 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 last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of Grindr in the second quarter worth approximately $303,000. SG Americas Securities LLC purchased a new position in shares of Grindr during the second quarter valued at approximately $718,000. Finally, Quest Partners LLC lifted its position in Grindr by 9,055.0% during the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after purchasing an additional 12,677 shares during the period. Institutional investors own 7.22% of the company’s stock.

Insiders Place Their Bets

In related news, Director James Fu Bin Lu sold 195,600 shares of Grindr stock in a transaction that occurred 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 sale, the director now owns 34,977,181 shares of the company’s stock, valued at approximately $503,321,634.59. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nathan Richardson sold 5,234 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.00, for a total value of $78,510.00. Following the completion of the transaction, the director now owns 27,408 shares of the company’s stock, valued at $411,120. The trade was a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,655,870 shares of company stock worth $25,011,731 over the last quarter. 76.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Grindr Price Performance

Shares of GRND stock opened at $15.94 on Monday. Grindr Inc. has a 1 year low of $7.62 and a 1 year high of $15.98. The firm has a fifty day moving average price of $13.78 and a 200-day moving average price of $12.14. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -45.54 and a beta of 0.37.

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.