Blueshift Asset Management LLC Invests $195,000 in Grindr Inc. (NYSE:GRND)

Blueshift Asset Management LLC bought a new position in Grindr Inc. (NYSE:GRND) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,947 shares of the company’s stock, valued at approximately $195,000.

Several other institutional investors and hedge funds also recently modified their holdings of GRND. Principal Financial Group Inc. purchased a new stake in shares of Grindr in the third quarter worth about $365,000. Victory Capital Management Inc. acquired a new stake in Grindr during the third quarter valued at approximately $321,000. Quest Partners LLC raised its stake in Grindr by 277.4% during the third quarter. Quest Partners LLC now owns 48,375 shares of the company’s stock valued at $577,000 after buying an additional 35,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after buying an additional 17,678 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Grindr during the third quarter valued at approximately $830,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the transaction, the insider now directly owns 577,549 shares of the company’s stock, valued at $10,395,882. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup restated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Raymond James restated an “outperform” rating and set a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Grindr Trading Up 1.8 %

Shares of Grindr stock opened at $17.33 on Friday. The business’s 50 day simple moving average is $17.51 and its 200-day simple moving average is $15.45. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -49.51 and a beta of 0.30. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20.

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.