Jane Street Group LLC Sells 59,316 Shares of Grindr Inc. (NYSE:GRND)

Jane Street Group LLC decreased its position in shares of Grindr Inc. (NYSE:GRND) by 28.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,231 shares of the company’s stock after selling 59,316 shares during the period. Jane Street Group LLC owned about 0.08% of Grindr worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quest Partners LLC raised its position in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after purchasing an additional 12,677 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of Grindr during the second quarter worth about $670,000. Federated Hermes Inc. acquired a new position in shares of Grindr in the second quarter worth approximately $3,640,000. Hsbc Holdings PLC boosted its holdings in Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after acquiring an additional 2,050 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Grindr during the 2nd quarter valued at approximately $371,000. Institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GRND shares. TD Cowen upped their price objective on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Grindr in a report on Monday, December 16th. Raymond James boosted their price objective on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group started coverage on Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 target price for the company.

Insider Buying and Selling

In other news, insider Zachary Katz sold 3,058 shares of the business’s 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 completion of the sale, the insider now directly owns 586,722 shares of the company’s stock, valued at $8,390,124.60. The trade was 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. Also, Director James Fu Bin Lu sold 750,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the completion of the sale, the director now owns 31,540,655 shares in the company, valued at $477,525,516.70. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,405,870 shares of company stock valued at $36,366,731. 76.40% of the stock is owned by company insiders.

Grindr Price Performance

GRND stock opened at $17.72 on Thursday. Grindr Inc. has a 1 year low of $7.93 and a 1 year high of $17.87. The stock has a market capitalization of $3.13 billion, a PE ratio of -50.63 and a beta of 0.37. The company’s 50-day moving average is $14.89 and its 200-day moving average is $12.78.

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.