Tudor Investment Corp ET AL Takes $7.23 Million Position in Grindr Inc. (NYSE:GRND)

Tudor Investment Corp ET AL bought a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 405,277 shares of the company's stock, valued at approximately $7,230,000. Tudor Investment Corp ET AL owned 0.23% of Grindr at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GRND. Barclays PLC boosted its position in Grindr by 106.8% in the 3rd quarter. Barclays PLC now owns 72,580 shares of the company's stock valued at $865,000 after buying an additional 37,477 shares during the period. Geode Capital Management LLC grew its position in shares of Grindr by 7.5% in the 3rd quarter. Geode Capital Management LLC now owns 514,520 shares of the company's stock worth $6,139,000 after buying an additional 36,001 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Grindr in the third quarter worth $7,720,000. Principal Financial Group Inc. purchased a new position in Grindr during the 3rd quarter worth $365,000. Finally, JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 93,005 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other Grindr news, insider Zachary Katz sold 3,058 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 613,800 shares of the company's stock, valued at $9,961,974. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 8,115 shares of company stock worth $139,397 in the last ninety days. Company insiders own 76.40% of the company's stock.

Grindr Trading Up 4.1 %

Shares of NYSE GRND traded up $0.91 during trading on Friday, reaching $23.16. 1,838,471 shares of the company traded hands, compared to its average volume of 985,646. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $23.20. The stock has a market cap of $4.82 billion, a P/E ratio of -66.17 and a beta of 0.31. The firm's fifty day simple moving average is $18.33 and its 200 day simple moving average is $16.93.

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.