Grindr Inc. (NYSE:GRND) Shares Purchased by Algert Global LLC

Algert Global LLC lifted its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 150.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,575 shares of the company's stock after purchasing an additional 104,965 shares during the period. Algert Global LLC owned about 0.10% of Grindr worth $3,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. increased 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 worth $47,000 after acquiring an additional 642 shares in the last quarter. Quarry LP grew its position in Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after purchasing an additional 2,316 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Grindr during the 4th quarter valued at $89,000. R Squared Ltd acquired a new stake in shares of Grindr in the fourth quarter worth $101,000. Finally, Polymer Capital Management HK LTD purchased a new position in shares of Grindr during the fourth quarter valued at $178,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

GRND has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a research note on Monday, April 21st. 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. Finally, Citigroup reissued an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grindr currently has a consensus rating of "Buy" and an average target price of $20.75.

Grindr Trading Up 2.8 %

GRND stock opened at $24.02 on Thursday. The firm has a market cap of $5.00 billion, a PE ratio of -68.63 and a beta of 0.28. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $24.40. The company has a fifty day simple moving average of $18.65 and a 200 day simple moving average of $17.16.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,057 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total transaction of $55,026.00. Following 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 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 worth $139,397 over the last three months. 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.

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