Grindr Inc. (NYSE:GRND) Position Decreased by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in Grindr Inc. (NYSE:GRND - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,388,518 shares of the company's stock after selling 118,684 shares during the period. Vanguard Group Inc. owned approximately 0.79% of Grindr worth $24,771,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GRND. KLP Kapitalforvaltning AS purchased a new position in Grindr in the fourth quarter valued at about $89,000. Quantbot Technologies LP grew its position in shares of Grindr by 110.8% during the fourth quarter. Quantbot Technologies LP now owns 115,489 shares of the company's stock worth $2,060,000 after buying an additional 60,704 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Grindr in the fourth quarter worth $195,000. Teacher Retirement System of Texas acquired a new stake in Grindr in the fourth quarter valued at $214,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Grindr during the 4th quarter valued at $947,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Stock Up 3.5 %

Shares of NYSE:GRND traded up $0.66 during trading on Friday, hitting $19.58. 1,796,003 shares of the company traded hands, compared to its average volume of 935,939. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -55.93 and a beta of 0.31. Grindr Inc. has a one year low of $8.95 and a one year high of $19.65. The business's fifty day moving average is $17.76 and its 200-day moving average is $16.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James restated an "outperform" rating and issued a $22.00 target price on shares of Grindr in a research note on Thursday, March 6th. JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Grindr in a research note on Thursday, February 6th. Finally, Citigroup reiterated 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.com, the stock has an average rating of "Buy" and an average price target of $20.00.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. The trade was a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 8,115 shares of company stock worth $139,397. 76.40% of the stock is owned by insiders.

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.