JPMorgan Chase & Co. Lowers Holdings in Grindr Inc. (NYSE:GRND)

JPMorgan Chase & Co. decreased its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 46.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,731 shares of the company's stock after selling 107,612 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of Grindr worth $2,225,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Grindr in the 3rd quarter worth $7,720,000. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 36,001 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Grindr by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 195,298 shares of the company's stock worth $3,484,000 after purchasing an additional 3,612 shares in the last quarter. SG Americas Securities LLC lifted its stake in Grindr by 140.5% in the 4th quarter. SG Americas Securities LLC now owns 155,893 shares of the company's stock worth $2,781,000 after purchasing an additional 91,077 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in Grindr by 110.8% in the 4th quarter. Quantbot Technologies LP now owns 115,489 shares of the company's stock worth $2,060,000 after purchasing an additional 60,704 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company's stock.

Analyst Upgrades and Downgrades

GRND has been the topic of several research analyst reports. Raymond James reiterated an "outperform" rating and issued a $22.00 price target on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price target on shares of Grindr in a research note on Monday, April 21st. Finally, Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $20.75.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total transaction of $55,026.00. Following the transaction, the insider now directly owns 577,549 shares in the company, valued at approximately $10,395,882. This represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 Stock Up 1.0 %

NYSE:GRND traded up $0.22 during mid-day trading on Tuesday, hitting $21.67. 1,333,737 shares of the stock traded hands, compared to its average volume of 968,435. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -61.91 and a beta of 0.31. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $21.77. The firm's 50 day moving average is $18.09 and its two-hundred day moving average is $16.76.

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.