Intech Investment Management LLC Purchases Shares of 14,081 Grindr Inc. (NYSE:GRND)

Intech Investment Management LLC acquired a new position in Grindr Inc. (NYSE:GRND) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,081 shares of the company’s stock, valued at approximately $251,000.

A number of other large investors also recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Grindr in the 4th quarter valued at $101,000. Y Intercept Hong Kong Ltd bought a new position in shares of Grindr during the fourth quarter valued at about $201,000. Centiva Capital LP purchased a new position in Grindr during the third quarter worth about $160,000. The Manufacturers Life Insurance Company grew 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 in the last quarter. Finally, PDT Partners LLC bought a new position in shares of Grindr during the 3rd quarter worth approximately $225,000. Institutional investors own 7.22% of the company’s stock.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the sale, the insider now owns 580,606 shares in the company, valued at $9,521,938.40. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 11,173 shares of company stock valued at $187,729 over the last three months. 76.40% of the stock is currently owned by insiders.

Grindr Stock Performance

GRND stock opened at $17.86 on Thursday. The stock has a fifty day moving average of $17.60 and a 200-day moving average of $15.58. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.20. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -51.03 and a beta of 0.30.

Wall Street Analyst Weigh In

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

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.