Jump Financial LLC Purchases 48,150 Shares of Grindr Inc. (NYSE:GRND)

Jump Financial LLC boosted its stake in shares of Grindr Inc. (NYSE:GRND) by 68.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,784 shares of the company’s stock after buying an additional 48,150 shares during the period. Jump Financial LLC owned 0.07% of Grindr worth $2,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after acquiring an additional 642 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Grindr during the 4th quarter worth about $89,000. R Squared Ltd purchased a new position in Grindr during the fourth quarter valued at approximately $101,000. Polymer Capital Management HK LTD purchased a new position in shares of Grindr during the 4th quarter valued at approximately $178,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Grindr in the fourth quarter worth about $195,000. Institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GRND. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Finally, Raymond James reissued an “outperform” rating and issued a $22.00 price target on shares of Grindr in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grindr has an average rating of “Buy” and an average target price of $20.00.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the transaction, the insider now owns 613,800 shares in the company, valued at $9,961,974. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 8,115 shares of company stock worth $139,397. Corporate insiders own 76.40% of the company’s stock.

Grindr Trading Up 3.5 %

Shares of NYSE GRND opened at $19.58 on Friday. The stock has a market capitalization of $4.08 billion, a PE ratio of -55.93 and a beta of 0.31. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.65. The stock has a fifty day simple moving average of $17.76 and a 200-day simple moving average of $16.32.

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.