Charles Schwab Investment Management Inc. Acquires 17,678 Shares of Grindr Inc. (NYSE:GRND)

Charles Schwab Investment Management Inc. boosted its position in shares of Grindr Inc. (NYSE:GRND) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,686 shares of the company’s stock after acquiring an additional 17,678 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.11% of Grindr worth $2,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GRND. nVerses Capital LLC bought a new stake in Grindr during the third quarter worth $27,000. Price T Rowe Associates Inc. MD raised its position 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 worth $120,000 after acquiring an additional 1,667 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Grindr during the second quarter worth $136,000. Quest Partners LLC raised its position in Grindr by 9,055.0% during 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. bought a new stake in Grindr during the second quarter worth $189,000. 7.22% of the stock is owned by institutional investors.

Grindr Price Performance

Shares of GRND opened at $15.74 on Monday. The company’s 50-day moving average is $14.17 and its 200-day moving average is $12.36. Grindr Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $16.31. The firm has a market capitalization of $2.78 billion, a PE ratio of -44.97 and a beta of 0.37.

Insider Activity at Grindr

In other Grindr news, CAO Kye Chen sold 4,964 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $11.81, for a total transaction of $58,624.84. Following the sale, the chief accounting officer now directly owns 130,598 shares in the company, valued at $1,542,362.38. This represents a 3.66 % 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 James Fu Bin Lu sold 750,000 shares of the 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 sale, the director now owns 31,540,655 shares in the company, valued at $477,525,516.70. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,405,870 shares of company stock worth $36,366,731. Corporate insiders own 76.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.