ExodusPoint Capital Management LP Trims Stock Position in Grindr Inc. (NYSE:GRND)

ExodusPoint Capital Management LP decreased its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 57.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,028 shares of the company's stock after selling 71,697 shares during the period. ExodusPoint Capital Management LP's holdings in Grindr were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GRND. Charles Schwab Investment Management Inc. increased its position in Grindr by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company's stock worth $2,287,000 after purchasing an additional 17,678 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company's stock worth $163,000 after buying an additional 1,166 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Grindr during the third quarter worth $160,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Grindr during the 3rd quarter valued at $278,000. Finally, Barclays PLC grew its position in Grindr by 106.8% during the 3rd 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. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on GRND shares. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th. Citigroup reiterated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Finally, Raymond James reiterated an "outperform" rating and set a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grindr has an average rating of "Buy" and a consensus price target of $20.00.

Insider Activity at Grindr

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 in the company, valued at $9,961,974. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 7,115 shares of company stock valued at $120,997. 76.40% of the stock is owned by insiders.

Grindr Trading Down 0.1 %

Shares of GRND traded down $0.01 during trading hours on Wednesday, reaching $18.87. 195,471 shares of the stock traded hands, compared to its average volume of 917,038. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20. The stock has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $16.20. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -53.91 and a beta of 0.31.

Grindr 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.