Dynamic Technology Lab Private Ltd Takes Position in Grindr Inc. (NYSE:GRND)

Dynamic Technology Lab Private Ltd purchased a new position in Grindr Inc. (NYSE:GRND) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 67,146 shares of the company’s stock, valued at approximately $801,000.

Other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Grindr in the 3rd quarter valued at about $27,000. Point72 DIFC Ltd bought a new stake in shares of Grindr during the second quarter valued at approximately $136,000. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 1,667 shares in the last quarter. Quest Partners LLC grew its stake in 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 purchasing an additional 12,677 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Grindr during the 2nd quarter worth $189,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

GRND has been the subject of several research reports. Raymond James upped their target price on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. TD Cowen upped their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

Grindr Stock Down 0.5 %

Shares of GRND stock opened at $15.00 on Thursday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -42.86 and a beta of 0.33. Grindr Inc. has a 52-week low of $6.12 and a 52-week high of $15.39. The company’s 50 day moving average is $13.29 and its 200 day moving average is $11.82.

Insider Buying and Selling at Grindr

In other Grindr news, CAO Kye Chen sold 16,187 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $11.68, for a total transaction 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. This represents a 10.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nathan Richardson sold 5,234 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00. Following the completion of the sale, the director now owns 27,408 shares in the company, valued at $411,120. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,549 shares of company stock valued at $4,195,896. 76.40% of the stock is currently 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.