Legal & General Group Plc Raises Stock Position in Grindr Inc. (NYSE:GRND)

Legal & General Group Plc lifted its position in shares of Grindr Inc. (NYSE:GRND) by 721.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,673 shares of the company’s stock after acquiring an additional 19,914 shares during the quarter. Legal & General Group Plc’s holdings in Grindr were worth $404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its position in Grindr by 31.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after purchasing an additional 642 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Grindr in the 4th quarter worth about $89,000. R Squared Ltd purchased a new stake in shares of Grindr in the 4th quarter worth about $101,000. Polymer Capital Management HK LTD acquired a new stake in Grindr in the 4th quarter valued at about $178,000. Finally, Blueshift Asset Management LLC purchased a new position in Grindr during the 4th quarter valued at about $195,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Up 1.0 %

Shares of Grindr stock opened at $21.67 on Wednesday. The firm has a market cap of $4.51 billion, a PE ratio of -61.91 and a beta of 0.31. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $21.77. The business’s fifty day moving average is $18.09 and its two-hundred day moving average is $16.76.

Insider Buying and Selling at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.23, for a total value of $49,631.34. Following the transaction, the insider now directly owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. This trade represents a 0.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 8,115 shares of company stock worth $139,397 in the last 90 days. 76.40% of the stock is owned by company insiders.

Analyst Ratings Changes

GRND has been the topic of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $24.00 price target on shares of Grindr in a research report on Monday, April 21st. Citigroup reiterated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Finally, Raymond James reissued an “outperform” rating and set a $22.00 price target on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grindr currently has a consensus rating of “Buy” and a consensus target price of $20.75.

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.