Legal & General Group Plc Acquires 19,914 Shares of Grindr Inc. (NYSE:GRND)

Legal & General Group Plc raised its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 721.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 22,673 shares of the company's stock after acquiring an additional 19,914 shares during the quarter. Legal & General Group Plc's holdings in Grindr were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lord Abbett & CO. LLC bought a new position in shares of Grindr during the 3rd quarter worth approximately $7,720,000. Federated Hermes Inc. boosted its position in shares of Grindr by 101.3% during the 4th quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock worth $15,450,000 after purchasing an additional 435,748 shares in the last quarter. BIT Capital GmbH grew its stake in Grindr by 9.6% in the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock valued at $71,165,000 after acquiring an additional 349,189 shares during the period. Norges Bank bought a new stake in shares of Grindr during the fourth quarter valued at approximately $6,035,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Grindr during the fourth quarter worth approximately $2,712,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Trading Up 0.3 %

Shares of GRND traded up $0.06 on Monday, reaching $23.21. 193,485 shares of the company's stock traded hands, compared to its average volume of 1,665,913. The stock's 50 day simple moving average is $18.33 and its two-hundred day simple moving average is $16.99. The stock has a market cap of $4.83 billion, a PE ratio of -66.31 and a beta of 0.31. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $23.45.

Analysts Set New Price Targets

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

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the 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 directly owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,115 shares of company stock worth $139,397 in the last quarter. 76.40% of the stock is currently owned by company insiders.

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.