Grindr Sees Unusually Large Options Volume (NYSE:GRND)

Grindr Inc. (NYSE:GRND - Get Free Report) was the target of some unusual options trading activity on Monday. Stock investors bought 3,242 call options on the stock. This is an increase of approximately 129% compared to the average daily volume of 1,414 call options.

Analysts Set New Price Targets

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

Grindr Stock Up 1.1 %

Grindr stock traded up $0.23 during midday trading on Friday, reaching $21.06. The stock had a trading volume of 1,149,616 shares, compared to its average volume of 961,818. The firm has a market capitalization of $4.39 billion, a PE ratio of -60.17 and a beta of 0.31. Grindr has a 12 month low of $8.95 and a 12 month high of $21.33. The firm's 50-day moving average price is $17.95 and its 200 day moving average price is $16.64.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 8,115 shares of company stock valued at $139,397 in the last quarter. Insiders own 76.40% of the company's stock.

Hedge Funds Weigh In On Grindr

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after purchasing an additional 623 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after buying an additional 642 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Grindr by 45.5% during the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after acquiring an additional 662 shares during the last quarter. Rhumbline Advisers grew its position in Grindr by 3.0% in the first quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock worth $770,000 after acquiring an additional 1,272 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in Grindr by 5.6% in the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company's stock worth $512,000 after acquiring an additional 1,524 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors.

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.