Quest Partners LLC Has $577,000 Holdings in Grindr Inc. (NYSE:GRND)

Quest Partners LLC grew its holdings in Grindr Inc. (NYSE:GRND) by 277.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 48,375 shares of the company’s stock after acquiring an additional 35,558 shares during the period. Quest Partners LLC’s holdings in Grindr were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Grindr in the 2nd quarter valued at $718,000. Yarra Square Partners LP bought a new position in shares of Grindr in the second quarter valued at about $3,005,000. Federated Hermes Inc. acquired a new stake in shares of Grindr during the 2nd quarter worth about $3,640,000. Point72 Asset Management L.P. bought a new stake in shares of Grindr during the 2nd quarter worth about $688,000. Finally, Discovery Capital Management LLC CT acquired a new position in Grindr in the 2nd quarter valued at about $3,179,000. 7.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Grindr news, insider Zachary Katz sold 3,058 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the sale, the insider now directly owns 586,722 shares in the company, valued at $8,390,124.60. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nathan Richardson sold 5,234 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00. Following the completion of the transaction, the director now directly owns 27,408 shares in the company, valued at approximately $411,120. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 296,549 shares of company stock worth $4,195,896 in the last 90 days. Company insiders own 76.40% of the company’s stock.

Grindr Trading Up 0.7 %

Shares of GRND opened at $15.04 on Friday. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.21. The firm’s 50 day moving average is $13.17 and its 200-day moving average is $11.74. The stock has a market capitalization of $2.66 billion, a PE ratio of -42.96 and a beta of 0.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GRND shares. Raymond James boosted their price objective on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. TD Cowen upped their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

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.