Grindr Inc. (NYSE:GRND) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Grindr Inc. (NYSE:GRND) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,298 shares of the company’s stock after acquiring an additional 3,612 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.11% of Grindr worth $3,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lord Abbett & CO. LLC bought a new position in shares of Grindr in the third quarter valued at approximately $7,720,000. Skye Global Management LP boosted its position in shares of Grindr by 23.3% during the 3rd quarter. Skye Global Management LP now owns 592,000 shares of the company’s stock valued at $7,063,000 after purchasing an additional 112,000 shares in the last quarter. Geode Capital Management LLC grew its position in Grindr by 7.5% in the third quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after buying an additional 36,001 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Grindr by 66.7% in the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after buying an additional 93,005 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock valued at $2,145,000 after acquiring an additional 123,600 shares during the last quarter. Institutional investors own 7.22% of the company’s stock.

Grindr Price Performance

NYSE:GRND opened at $17.92 on Friday. The stock has a market cap of $3.73 billion, a PE ratio of -51.21 and a beta of 0.30. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.20. The stock’s 50-day moving average is $17.62 and its two-hundred day moving average is $15.60.

Insider Activity at Grindr

In other news, insider Zachary Katz sold 3,057 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the sale, the insider now directly owns 577,549 shares in the company, valued at approximately $10,395,882. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 11,173 shares of company stock valued at $187,729. 76.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. The Goldman Sachs Group started coverage on shares of Grindr in a report on Monday, December 16th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Raymond James reaffirmed an “outperform” rating and issued a $22.00 price objective 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, Grindr has an average rating of “Buy” and a consensus price target of $20.00.

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.