EAM Global Investors LLC Purchases New Stake in Grindr Inc. (NYSE:GRND)

EAM Global Investors LLC acquired a new position in Grindr Inc. (NYSE:GRND) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 290,851 shares of the company’s stock, valued at approximately $5,189,000. EAM Global Investors LLC owned 0.16% of Grindr as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of 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 last quarter. Orion Portfolio Solutions LLC purchased a new stake in Grindr during the third quarter valued at about $278,000. Barclays PLC lifted its holdings in Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company’s stock valued at $865,000 after purchasing an additional 37,477 shares during the last quarter. Geode Capital Management LLC boosted its position in Grindr by 7.5% during the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after purchasing an additional 36,001 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Grindr in the third quarter worth about $7,720,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Grindr

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares in the company, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 7,115 shares of company stock valued at $120,997. 76.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on GRND. JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research note on Thursday, February 6th. Raymond James restated an “outperform” rating and set a $22.00 target price on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Grindr presently has an average rating of “Buy” and an average price target of $20.00.

Grindr Trading Up 4.0 %

Grindr stock opened at $18.90 on Wednesday. The firm’s 50 day simple moving average is $17.68 and its 200 day simple moving average is $16.20. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $19.20. The firm has a market capitalization of $3.93 billion, a PE ratio of -53.99 and a beta of 0.31.

Grindr 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.