XTX Topco Ltd purchased a new stake in shares of Grindr Inc. (NYSE:GRND – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,300 shares of the company’s stock, valued at approximately $371,000.
Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake in shares of Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after buying an additional 2,050 shares in the last quarter. Federated Hermes Inc. bought a new stake in Grindr during the 2nd quarter worth about $3,640,000. Cornercap Investment Counsel Inc. acquired a new stake in Grindr in the 2nd quarter valued at about $670,000. Quest Partners LLC raised its stake 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Grindr during the second quarter worth approximately $718,000. Institutional investors own 7.22% of the company’s stock.
Grindr Price Performance
Shares of NYSE GRND opened at $12.16 on Friday. Grindr Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $12.83. The firm has a market capitalization of $2.14 billion, a P/E ratio of -67.55 and a beta of 0.35. The company’s 50 day simple moving average is $11.79 and its 200 day simple moving average is $10.81.
Insiders Place Their Bets
In other news, CAO Kye Chen sold 16,187 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $11.68, for a total value of $189,064.16. Following the completion of the sale, the chief accounting officer now directly owns 138,604 shares of the company’s stock, valued at approximately $1,618,894.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 76.40% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on GRND. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Grindr in a report on Monday, July 15th. Raymond James boosted their target price on Grindr from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, TD Cowen upped their price target on Grindr from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th.
Check Out Our Latest Analysis on Grindr
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.
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