Cantor Fitzgerald L. P. Purchases New Shares in Grindr Inc. (NYSE:GRND)

Cantor Fitzgerald L. P. acquired a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 184,926 shares of the company's stock, valued at approximately $3,299,000. Cantor Fitzgerald L. P. owned about 0.10% of Grindr as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Grindr by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after purchasing an additional 623 shares during the period. Russell Investments Group Ltd. boosted its position in shares of 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 during the period. Bleakley Financial Group LLC increased its position in Grindr by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after acquiring an additional 1,524 shares during the period. Savant Capital LLC boosted its holdings in Grindr by 9.6% in the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company's stock valued at $345,000 after purchasing an additional 1,689 shares during the period. Finally, Quarry LP boosted its holdings in Grindr by 209.2% in the 4th 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 period. 7.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 8,115 shares of company stock worth $139,397 over the last three months. 76.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Grindr Price Performance

Shares of Grindr stock traded up $0.66 during midday trading on Wednesday, hitting $24.02. 1,445,422 shares of the company were exchanged, compared to its average volume of 1,001,772. The firm has a 50 day simple moving average of $18.65 and a 200-day simple moving average of $17.16. The firm has a market cap of $5.00 billion, a P/E ratio of -68.63 and a beta of 0.28. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $24.36.

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.