51,900 Shares in Grindr Inc. (NYSE:GRND) Purchased by Swiss National Bank

Swiss National Bank purchased a new stake in Grindr Inc. (NYSE:GRND) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 51,900 shares of the company’s stock, valued at approximately $926,000.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Grindr by 66.7% during the third 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 in the last quarter. Point72 Asset Management L.P. raised its position in Grindr by 219.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after purchasing an additional 123,600 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Grindr by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock worth $2,287,000 after purchasing an additional 17,678 shares during the last quarter. Graypoint LLC acquired a new position in Grindr during the 4th quarter worth $1,211,000. Finally, Principal Financial Group Inc. bought a new position in Grindr in the 3rd quarter valued at $365,000. 7.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Grindr Stock Down 1.0 %

Shares of Grindr stock opened at $17.72 on Friday. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -50.64 and a beta of 0.30. The firm’s 50-day moving average price is $17.63 and its two-hundred day moving average price is $15.66.

Insider Transactions at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the sale, the insider now directly owns 577,549 shares of the company’s stock, valued at $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 11,173 shares of company stock valued at $187,729. Company insiders own 76.40% of the company’s stock.

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.