PDT Partners LLC Acquires 73,814 Shares of Grindr Inc. (NYSE:GRND)

PDT Partners LLC grew its position in Grindr Inc. (NYSE:GRND - Free Report) by 390.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,715 shares of the company's stock after purchasing an additional 73,814 shares during the period. PDT Partners LLC owned about 0.05% of Grindr worth $1,654,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Barclays PLC boosted its position in Grindr by 106.8% in the third quarter. Barclays PLC now owns 72,580 shares of the company's stock valued at $865,000 after buying an additional 37,477 shares in the last quarter. Geode Capital Management LLC boosted 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 worth $6,139,000 after acquiring an additional 36,001 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Grindr during the 3rd quarter worth approximately $7,720,000. Principal Financial Group Inc. bought a new stake in Grindr during the 3rd quarter worth approximately $365,000. Finally, JPMorgan Chase & Co. increased its holdings in Grindr by 66.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock valued at $2,772,000 after purchasing an additional 93,005 shares in the last quarter. Institutional investors own 7.22% of the company's stock.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the business'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 transaction, the insider now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 8,115 shares of company stock worth $139,397 in the last three months. Insiders own 76.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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 reiterated an "outperform" rating and set a $22.00 price target on shares of Grindr in a research report on Thursday, March 6th. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $20.75.

Grindr Trading Up 4.1 %

Shares of GRND traded up $0.91 during trading hours on Friday, hitting $23.16. 1,838,471 shares of the stock traded hands, compared to its average volume of 985,646. The business has a fifty day moving average of $18.33 and a 200-day moving average of $16.93. The firm has a market capitalization of $4.82 billion, a PE ratio of -66.17 and a beta of 0.31. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $23.20.

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.