Voya Investment Management LLC Grows Position in Grindr Inc. (NYSE:GRND)

Voya Investment Management LLC increased its position in Grindr Inc. (NYSE:GRND - Free Report) by 1,436.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,311 shares of the company's stock after acquiring an additional 150,810 shares during the period. Voya Investment Management LLC owned approximately 0.09% of Grindr worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Grindr by 31.9% in 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr in the fourth quarter worth $89,000. R Squared Ltd acquired a new stake in shares of Grindr in the fourth quarter worth $101,000. Polymer Capital Management HK LTD acquired a new position in Grindr during the fourth quarter valued at $178,000. Finally, Blueshift Asset Management LLC purchased a new stake in Grindr in the fourth quarter valued at $195,000. Institutional investors and hedge funds own 7.22% of the company's stock.

Grindr Stock Up 3.2 %

Shares of NYSE GRND traded up $0.74 during trading on Wednesday, hitting $24.10. The company had a trading volume of 865,876 shares, compared to its average volume of 997,021. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -68.80 and a beta of 0.28. The stock has a fifty day simple moving average of $18.53 and a two-hundred day simple moving average of $17.11. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $24.19.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a report 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $20.75.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total transaction of $55,026.00. Following the completion of the sale, the insider now directly owns 577,549 shares in the company, valued at $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 8,115 shares of company stock valued at $139,397. Corporate insiders own 76.40% of the company's stock.

About Grindr

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.