XTX Topco Ltd Purchases Shares of 16,577 Grindr Inc. (NYSE:GRND)

XTX Topco Ltd acquired a new position in shares of Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,577 shares of the company's stock, valued at approximately $296,000.

Several other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Grindr by 66.7% in the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company's stock worth $2,772,000 after buying an additional 93,005 shares in the last quarter. Graypoint LLC purchased a new position in Grindr during the fourth quarter valued at approximately $1,211,000. Principal Financial Group Inc. purchased a new position in Grindr during the third quarter valued at approximately $365,000. Barclays PLC grew its stake in Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company's stock valued at $865,000 after acquiring an additional 37,477 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Grindr by 7.5% during the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company's stock valued at $6,139,000 after acquiring an additional 36,001 shares in the last quarter. Institutional investors own 7.22% of the company's stock.

Insiders Place Their Bets

In other news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were 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. This represents a 0.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 8,115 shares of company stock valued at $139,397 in the last quarter. Corporate insiders own 76.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Raymond James reaffirmed an "outperform" rating and set a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. Citigroup reaffirmed an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $24.00 price objective 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 a consensus rating of "Buy" and an average price target of $20.75.

Grindr Price Performance

GRND stock traded up $0.27 during midday trading on Wednesday, reaching $21.94. The company had a trading volume of 1,463,939 shares, compared to its average volume of 973,563. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $22.03. The company has a market capitalization of $4.57 billion, a P/E ratio of -62.69 and a beta of 0.31. The firm has a 50-day moving average price of $18.17 and a 200-day moving average price of $16.80.

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.