53,104 Shares in Grindr Inc. (NYSE:GRND) Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in Grindr Inc. (NYSE:GRND) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 53,104 shares of the company’s stock, valued at approximately $947,000.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Grindr in the 4th quarter worth about $101,000. Centiva Capital LP acquired a new position in Grindr in the 3rd quarter worth about $160,000. The Manufacturers Life Insurance Company increased its position in Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after purchasing an additional 1,166 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Grindr in the 4th quarter worth about $201,000. Finally, PDT Partners LLC acquired a new position in Grindr in the 3rd quarter worth about $225,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRND has been the topic of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th. Raymond James reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Grindr in a research report on Thursday, March 6th. Citigroup reissued an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Finally, The Goldman Sachs Group initiated coverage on Grindr in a report on Monday, December 16th. They set a “buy” rating and a $20.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

Grindr Stock Performance

Shares of NYSE GRND opened at $17.03 on Friday. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -48.64 and a beta of 0.30. The business’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $15.39. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the sale, the insider now owns 613,800 shares of the company’s stock, valued at $9,961,974. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 11,173 shares of company stock valued at $187,729 in the last 90 days. 76.40% of the stock is currently owned by insiders.

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.