Schonfeld Strategic Advisors LLC Acquires New Position in Grindr Inc. (NYSE:GRND)

Schonfeld Strategic Advisors LLC bought a new position in Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 72,000 shares of the company's stock, valued at approximately $1,284,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock worth $47,000 after purchasing an additional 642 shares during the period. Quarry LP increased its holdings in shares of Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock worth $61,000 after buying an additional 2,316 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Grindr in the fourth quarter valued at approximately $89,000. R Squared Ltd acquired a new position in Grindr in the fourth quarter valued at approximately $101,000. Finally, Polymer Capital Management HK LTD purchased a new position in Grindr in the fourth quarter worth approximately $178,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Price Performance

NYSE GRND opened at $24.02 on Thursday. The company has a market cap of $5.00 billion, a P/E ratio of -68.63 and a beta of 0.28. The stock has a 50-day moving average of $18.65 and a two-hundred day moving average of $17.16. Grindr Inc. has a 1-year low of $8.95 and a 1-year high of $24.40.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the transaction, the insider now directly owns 613,800 shares in the company, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 8,115 shares of company stock valued at $139,397. 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.

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