AlphaQuest LLC Decreases Stock Position in Grindr Inc. (NYSE:GRND)

AlphaQuest LLC lessened its stake in shares of Grindr Inc. (NYSE:GRND) by 84.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,386 shares of the company’s stock after selling 40,989 shares during the period. AlphaQuest LLC’s holdings in Grindr were worth $132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Grindr during the 4th quarter valued at $101,000. Centiva Capital LP purchased a new stake in Grindr during the 3rd quarter valued at $160,000. The Manufacturers Life Insurance Company raised its holdings in Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Grindr during the 4th quarter valued at $201,000. Finally, PDT Partners LLC purchased a new stake in Grindr during the 3rd quarter valued at $225,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Transactions at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the transaction, the insider now owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. This represents a 0.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 11,173 shares of company stock valued at $187,729. 76.40% of the stock is currently owned by corporate insiders.

Grindr Trading Down 0.0 %

GRND opened at $16.94 on Tuesday. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The business’s fifty day simple moving average is $17.53 and its 200-day simple moving average is $15.33. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -48.39 and a beta of 0.30.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GRND shares. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group started coverage on Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.75.

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.