Aquatic Capital Management LLC Takes Position in Grindr Inc. (NYSE:GRND)

Aquatic Capital Management LLC bought a new position in Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,698 shares of the company's stock, valued at approximately $530,000.

A number of other hedge funds also recently made changes to their positions in GRND. Russell Investments Group Ltd. increased its position in Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Grindr during the fourth quarter worth $89,000. R Squared Ltd bought a new stake in shares of Grindr during the fourth quarter worth $101,000. Polymer Capital Management HK LTD acquired a new position in shares of Grindr during the fourth quarter worth $178,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Grindr in the 4th quarter valued at $195,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Grindr news, insider Zachary Katz sold 3,058 shares of the 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 directly 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 is accessible through this link. Insiders have sold a total of 8,115 shares of company stock valued at $139,397 over the last ninety days. 76.40% of the stock is owned by company insiders.

Grindr Stock Down 1.4 %

Shares of NYSE GRND traded down $0.32 during trading on Monday, reaching $22.83. The company had a trading volume of 1,630,734 shares, compared to its average volume of 991,210. The stock has a market cap of $4.75 billion, a P/E ratio of -65.23 and a beta of 0.31. The company's fifty day moving average price is $18.33 and its 200-day moving average price is $16.99. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $23.58.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GRND shares. JMP Securities restated a "market outperform" rating and set a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. Citigroup restated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $20.75.

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.