Grindr Inc. (NYSE:GRND) Shares Acquired by Barclays PLC

Barclays PLC boosted its holdings in shares of Grindr Inc. (NYSE:GRND - Free Report) by 30.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,647 shares of the company's stock after purchasing an additional 22,067 shares during the quarter. Barclays PLC owned approximately 0.05% of Grindr worth $1,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock worth $2,772,000 after buying an additional 93,005 shares during the last quarter. Graypoint LLC acquired a new position in Grindr in the fourth quarter worth $1,211,000. Principal Financial Group Inc. bought a new stake in Grindr during the third quarter valued at $365,000. Geode Capital Management LLC raised its holdings 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. Finally, Bank of New York Mellon Corp lifted its position in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock worth $944,000 after buying an additional 623 shares during the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Grindr Stock Performance

Shares of NYSE:GRND traded up $0.52 during trading hours on Tuesday, hitting $23.36. The stock had a trading volume of 1,814,310 shares, compared to its average volume of 994,491. The stock's fifty day simple moving average is $18.43 and its 200 day simple moving average is $17.06. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of -66.74 and a beta of 0.28. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $23.54.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,057 shares of the stock in a transaction 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 owns 577,549 shares of the company's stock, valued at approximately $10,395,882. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 8,115 shares of company stock valued at $139,397 in the last quarter. Corporate insiders own 76.40% of the company's stock.

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.