Bwcp LP Buys Shares of 677,592 Grindr Inc. (NYSE:GRND)

Bwcp LP acquired a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 677,592 shares of the company's stock, valued at approximately $12,088,000. Grindr makes up approximately 2.6% of Bwcp LP's investment portfolio, making the stock its 21st largest position. Bwcp LP owned about 0.38% of Grindr as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRND. Russell Investments Group Ltd. grew its stake in Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after acquiring an additional 642 shares during the period. Quarry LP increased its stake in Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Grindr during the fourth quarter worth about $89,000. R Squared Ltd acquired a new stake in Grindr in the 4th quarter worth about $101,000. Finally, Polymer Capital Management HK LTD purchased a new stake in Grindr in the 4th quarter valued at about $178,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Insider Buying and Selling at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the sale, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 8,115 shares of company stock valued at $139,397 in the last three months. Corporate insiders own 76.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GRND shares. Citigroup reissued an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Raymond James reiterated an "outperform" rating and issued a $22.00 target price on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $24.00 price target on shares of Grindr in a research 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 an average price target of $20.75.

Grindr Trading Down 1.4 %

Shares of GRND traded down $0.32 during midday trading on Monday, reaching $22.83. 1,630,734 shares of the company were exchanged, compared to its average volume of 991,211. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -65.23 and a beta of 0.31. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $23.58. The stock has a 50-day moving average price of $18.33 and a 200-day moving average price of $16.99.

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.