Voleon Capital Management LP Makes New $1.22 Million Investment in Grindr Inc. (NYSE:GRND)

Voleon Capital Management LP bought a new stake in Grindr Inc. (NYSE:GRND - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 68,194 shares of the company's stock, valued at approximately $1,217,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in 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 acquiring an additional 642 shares during the last quarter. Quarry LP increased its holdings in shares of Grindr by 209.2% in the fourth quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr during the fourth quarter worth $89,000. R Squared Ltd purchased a new position in Grindr in the 4th quarter valued at $101,000. Finally, Polymer Capital Management HK LTD acquired a new position in Grindr in the 4th quarter valued at $178,000. Hedge funds and other institutional investors own 7.22% of the company's stock.

Insider Buying and Selling

In related news, insider Zachary Katz sold 3,058 shares of Grindr 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 directly owns 613,800 shares in the company, valued at $9,961,974. The trade was a 0.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 8,115 shares of company stock valued at $139,397. 76.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRND. Citigroup restated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Raymond James reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Grindr has an average rating of "Buy" and a consensus price target of $20.75.

Grindr Price Performance

Grindr stock traded up $0.18 during mid-day trading on Tuesday, reaching $23.02. The company had a trading volume of 626,736 shares, compared to its average volume of 989,911. The stock's 50-day simple moving average is $18.43 and its 200-day simple moving average is $17.06. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $23.45. The company has a market capitalization of $4.79 billion, a P/E ratio of -65.90 and a beta of 0.28.

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.