290,851 Shares in Grindr Inc. (NYSE:GRND) Bought by EAM Global Investors LLC

EAM Global Investors LLC purchased a new stake in shares of Grindr Inc. (NYSE:GRND) during the fourth quarter, Holdings Channel reports. The firm purchased 290,851 shares of the company’s stock, valued at approximately $5,189,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Grindr by 66.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock worth $2,772,000 after purchasing an additional 93,005 shares during the period. Graypoint LLC bought a new position in shares of Grindr during the fourth quarter valued at about $1,211,000. Principal Financial Group Inc. purchased a new position in shares of Grindr in the third quarter worth about $365,000. Barclays PLC lifted its stake in shares of Grindr by 106.8% in the 3rd quarter. Barclays PLC now owns 72,580 shares of the company’s stock valued at $865,000 after acquiring an additional 37,477 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Grindr by 7.5% during the 3rd 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 during the period. Institutional investors own 7.22% of the company’s stock.

Grindr Stock Up 4.0 %

Shares of Grindr stock opened at $18.90 on Wednesday. The business has a 50 day moving average of $17.68 and a 200 day moving average of $16.20. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20. The company has a market cap of $3.93 billion, a PE ratio of -53.99 and a beta of 0.31.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total transaction of $49,631.34. Following the sale, the insider now directly owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. The trade was a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 7,115 shares of company stock valued at $120,997. 76.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on GRND. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. Citigroup reissued an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Raymond James restated an “outperform” rating and issued a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

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.