EAM Global Investors LLC Makes New Investment in Grindr Inc. (NYSE:GRND)

EAM Global Investors LLC bought a new stake in Grindr Inc. (NYSE:GRND - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 290,851 shares of the company's stock, valued at approximately $5,189,000. EAM Global Investors LLC owned approximately 0.16% of Grindr at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 93,005 shares during the last quarter. Graypoint LLC acquired a new position in Grindr during the fourth quarter worth approximately $1,211,000. Principal Financial Group Inc. purchased a new stake in Grindr in the third quarter valued at approximately $365,000. Barclays PLC grew its position in shares of Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company's stock worth $865,000 after acquiring an additional 37,477 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Grindr by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 514,520 shares of the company's stock valued at $6,139,000 after acquiring an additional 36,001 shares during the period. Institutional investors and hedge funds own 7.22% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James restated an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. JMP Securities restated a "market outperform" rating and issued a $21.00 price target on shares of Grindr in a research note on Thursday, February 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grindr currently has a consensus rating of "Buy" and a consensus price target of $20.00.

Grindr Stock Down 2.9 %

Shares of Grindr stock traded down $0.56 during trading hours on Monday, hitting $19.02. 459,036 shares of the company's stock traded hands, compared to its average volume of 934,110. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.77. The stock has a 50 day simple moving average of $17.76 and a 200-day simple moving average of $16.39. The company has a market cap of $3.96 billion, a PE ratio of -54.34 and a beta of 0.31.

Insider Transactions at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the business'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 transaction of $49,631.34. Following the completion of the transaction, the insider now directly owns 613,800 shares in the company, valued at approximately $9,961,974. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 8,115 shares of company stock valued at $139,397. Insiders own 76.40% of the company's stock.

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.