Algert Global LLC Makes New $830,000 Investment in Grindr Inc. (NYSE:GRND)

Algert Global LLC acquired a new stake in shares of Grindr Inc. (NYSE:GRND) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 69,610 shares of the company’s stock, valued at approximately $830,000.

Several other large investors have also modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of Grindr during the third quarter valued at $27,000. Price T Rowe Associates Inc. MD lifted its stake in Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after buying an additional 1,667 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Grindr in the second quarter worth about $136,000. Quest Partners LLC increased its position in shares of 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 acquiring an additional 12,677 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Grindr during the second quarter valued at approximately $189,000. 7.22% of the stock is owned by institutional investors.

Grindr Stock Performance

Grindr stock opened at $15.09 on Friday. Grindr Inc. has a twelve month low of $6.62 and a twelve month high of $15.44. The firm has a market cap of $2.67 billion, a PE ratio of -43.11 and a beta of 0.33. The firm’s 50 day moving average price is $13.39 and its two-hundred day moving average price is $11.87.

Wall Street Analyst Weigh In

GRND has been the topic of several research analyst reports. TD Cowen lifted their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Raymond James upped their price target on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 8th.

Insider Transactions at Grindr

In related news, CFO Vandana Mehta-Krantz sold 60,776 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total value of $868,489.04. Following the completion of the sale, the chief financial officer now owns 722,126 shares of the company’s stock, valued at approximately $10,319,180.54. The trade was a 7.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Fu Bin Lu sold 195,600 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the completion of the transaction, the director now owns 34,977,181 shares in the company, valued at $503,321,634.59. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 296,549 shares of company stock valued at $4,195,896. 76.40% of the stock is owned by insiders.

Grindr Company 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.