Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Grindr Inc. (NYSE:GRND – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,439 shares of the company’s stock, valued at approximately $189,000.
Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after acquiring an additional 1,667 shares during the period. Point72 DIFC Ltd bought a new position in Grindr during the second quarter valued at approximately $136,000. Quest Partners LLC boosted its holdings in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Grindr in the 1st quarter worth approximately $209,000. Finally, Hsbc Holdings PLC raised its stake in Grindr by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after buying an additional 2,050 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.
Grindr Stock Performance
Shares of Grindr stock opened at $11.75 on Thursday. The stock has a market cap of $2.07 billion, a P/E ratio of -65.27 and a beta of 0.35. The stock’s fifty day moving average is $11.82 and its 200 day moving average is $10.88. Grindr Inc. has a one year low of $5.69 and a one year high of $12.83.
Insiders Place Their Bets
In other news, CAO Kye Chen sold 16,187 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $11.68, for a total transaction of $189,064.16. Following the sale, the chief accounting officer now directly owns 138,604 shares in the company, valued at approximately $1,618,894.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 76.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Raymond James raised their price target on Grindr from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. TD Cowen raised their target price on Grindr from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Grindr in a research note on Monday, July 15th.
Check Out Our Latest Stock Report on Grindr
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.
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