Marshall Wace LLP Buys 513,770 Shares of Grindr Inc. (NYSE:GRND)

Marshall Wace LLP increased its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 85.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,117,053 shares of the company's stock after acquiring an additional 513,770 shares during the quarter. Marshall Wace LLP owned about 0.63% of Grindr worth $19,928,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in shares of Grindr during the 3rd quarter valued at about $7,720,000. Sellaronda Global Management LP purchased a new stake in shares of Grindr in the fourth quarter worth about $10,704,000. Federated Hermes Inc. boosted its stake in Grindr by 101.3% during the fourth quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock valued at $15,450,000 after buying an additional 435,748 shares during the last quarter. BIT Capital GmbH grew its holdings in Grindr by 9.6% during the 4th quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock valued at $71,165,000 after buying an additional 349,189 shares in the last quarter. Finally, Norges Bank bought a new stake in Grindr in the 4th quarter worth approximately $6,035,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Price Performance

Shares of GRND traded up $0.45 during midday trading on Friday, hitting $21.28. The stock had a trading volume of 293,861 shares, compared to its average volume of 1,682,109. The stock's 50 day moving average is $17.90 and its 200 day moving average is $16.55. The firm has a market cap of $4.43 billion, a PE ratio of -60.80 and a beta of 0.31. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $21.29.

Wall Street Analysts Forecast Growth

GRND has been the subject of a number of research reports. Raymond James reiterated an "outperform" rating and set a $22.00 target price 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 restated a "market outperform" rating and issued a $24.00 target price on shares of Grindr in a report on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $20.75.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total transaction of $55,026.00. Following the completion of the transaction, the insider now owns 577,549 shares in the company, valued at $10,395,882. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 8,115 shares of company stock worth $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.