Susquehanna Fundamental Investments LLC Makes New Investment in Grindr Inc. (NYSE:GRND)

Susquehanna Fundamental Investments LLC acquired a new stake in Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 63,092 shares of the company's stock, valued at approximately $1,126,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake 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. KLP Kapitalforvaltning AS purchased a new stake in Grindr during the 4th quarter worth about $89,000. R Squared Ltd purchased a new position in Grindr during the 4th quarter valued at about $101,000. Polymer Capital Management HK LTD purchased a new stake in shares of Grindr in the fourth quarter worth about $178,000. Finally, Blueshift Asset Management LLC purchased a new position in Grindr during the fourth quarter valued at approximately $195,000. Institutional investors own 7.22% of the company's stock.

Grindr Trading Down 1.4 %

Shares of GRND stock traded down $0.32 during trading hours on Monday, hitting $22.83. 1,630,734 shares of the company's stock were exchanged, compared to its average volume of 991,210. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $23.58. The company has a market capitalization of $4.75 billion, a PE ratio of -65.23 and a beta of 0.31. The business's 50 day simple moving average is $18.33 and its 200-day simple moving average is $16.99.

Insider Buying and Selling

In other news, insider Zachary Katz sold 3,058 shares of the business'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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 8,115 shares of company stock worth $139,397 in the last 90 days. 76.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GRND has been the subject of several analyst reports. Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities restated a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. Finally, Raymond James restated an "outperform" rating and set a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $20.75.

Grindr Company 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.