Grindr Inc. (NYSE:GRND) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its holdings in Grindr Inc. (NYSE:GRND) by 85.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,117,053 shares of the company’s stock after acquiring an additional 513,770 shares during the quarter. Marshall Wace LLP owned 0.63% of Grindr worth $19,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GRND. BIT Capital GmbH boosted its holdings in Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company’s stock worth $71,165,000 after buying an additional 349,189 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Grindr by 101.3% during the 4th quarter. Federated Hermes Inc. now owns 866,058 shares of the company’s stock worth $15,450,000 after acquiring an additional 435,748 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Grindr in the 3rd quarter worth $7,720,000. Sellaronda Global Management LP acquired a new position in shares of Grindr in the 4th quarter worth $10,704,000. Finally, Geode Capital Management LLC raised its position in shares of 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. Institutional investors and hedge funds own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GRND has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Grindr in a research note on Thursday, February 6th. Citigroup reissued an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Raymond James restated an “outperform” rating and issued a $22.00 price target 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 data from MarketBeat, Grindr currently has an average rating of “Buy” and an average price target of $20.00.

Insider Buying and Selling

In related news, insider Zachary Katz sold 3,057 shares of the business’s 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 sale, the insider now directly owns 577,549 shares in the company, valued at approximately $10,395,882. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 8,115 shares of company stock worth $139,397. Corporate insiders own 76.40% of the company’s stock.

Grindr Price Performance

NYSE:GRND opened at $19.58 on Friday. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.65. The stock has a market cap of $4.08 billion, a PE ratio of -55.93 and a beta of 0.31. The stock’s 50-day moving average is $17.76 and its two-hundred day moving average is $16.35.

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.