Sei Investments Co. Sells 14,564 Shares of Grindr Inc. (NYSE:GRND)

Sei Investments Co. lessened its position in shares of Grindr Inc. (NYSE:GRND) by 36.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,695 shares of the company’s stock after selling 14,564 shares during the period. Sei Investments Co.’s holdings in Grindr were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Grindr during the 4th quarter valued at $101,000. Centiva Capital LP acquired a new position in shares of Grindr during the third quarter valued at about $160,000. The Manufacturers Life Insurance Company boosted its position in shares of Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after purchasing an additional 1,166 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Grindr during the 4th quarter worth about $195,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Grindr in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,057 shares of Grindr stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total transaction of $55,026.00. Following the completion of the transaction, the insider now owns 577,549 shares of the company’s stock, valued at $10,395,882. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 11,173 shares of company stock worth $187,729. 76.40% of the stock is owned by corporate insiders.

Grindr Price Performance

Shares of GRND opened at $17.87 on Thursday. Grindr Inc. has a 1 year low of $8.95 and a 1 year high of $19.20. The stock’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $16.03. The firm has a market cap of $3.72 billion, a PE ratio of -51.04 and a beta of 0.31.

Analysts Set New Price Targets

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

About Grindr

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.