Grindr Inc. (NYSE:GRND) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its position in Grindr Inc. (NYSE:GRND - Free Report) by 70.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,342 shares of the company's stock after selling 77,878 shares during the period. Trexquant Investment LP's holdings in Grindr were worth $595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BIT Capital GmbH increased its stake in Grindr by 9.6% in the 4th quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock worth $71,165,000 after buying an additional 349,189 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Grindr during the third quarter valued at $7,720,000. Geode Capital Management LLC lifted its stake in Grindr by 7.5% in the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company's stock worth $6,139,000 after acquiring an additional 36,001 shares during the period. Norges Bank purchased a new position in Grindr during the 4th quarter valued at about $6,035,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock valued at $2,772,000 after purchasing an additional 93,005 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Insider Activity

In other Grindr news, insider Zachary Katz sold 3,057 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the sale, the insider now owns 577,549 shares of the company's stock, valued at $10,395,882. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 8,115 shares of company stock worth $139,397. Corporate insiders own 76.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GRND shares. Citigroup reiterated an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. JMP Securities reiterated a "market outperform" rating and issued a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Grindr in a report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grindr presently has a consensus rating of "Buy" and an average price target of $20.00.

Grindr Price Performance

NYSE GRND traded up $0.66 during trading hours on Friday, reaching $19.58. The company's stock had a trading volume of 1,796,003 shares, compared to its average volume of 930,849. The firm 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 1-year low of $8.95 and a 1-year high of $19.65. The company's 50-day moving average is $17.72 and its two-hundred day moving average is $16.27.

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.