Invesco Ltd. Sells 1,141 Shares of Grindr Inc. (NYSE:GRND)

Invesco Ltd. reduced its position in shares of Grindr Inc. (NYSE:GRND) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,112 shares of the company’s stock after selling 1,141 shares during the quarter. Invesco Ltd.’s holdings in Grindr were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of Grindr by 31.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock valued at $47,000 after acquiring an additional 642 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Grindr in the fourth quarter worth about $89,000. R Squared Ltd bought a new position in Grindr during the fourth quarter valued at approximately $101,000. Polymer Capital Management HK LTD purchased a new position in Grindr during the 4th quarter valued at approximately $178,000. Finally, Blueshift Asset Management LLC bought a new stake in Grindr in the fourth quarter worth $195,000. 7.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,057 shares of the company’s stock in a transaction that occurred 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 owns 577,549 shares of the company’s stock, valued at approximately $10,395,882. This represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 8,115 shares of company stock valued at $139,397 in the last ninety days. Corporate insiders own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GRND shares. JMP Securities reiterated a “market outperform” rating and set a $24.00 price objective on shares of Grindr in a research report on Monday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a research note 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 note on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr presently has an average rating of “Buy” and a consensus price target of $20.75.

Grindr Stock Performance

Shares of NYSE GRND opened at $23.16 on Friday. Grindr Inc. has a 52-week low of $8.95 and a 52-week high of $23.20. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -66.17 and a beta of 0.31. The stock has a 50 day moving average price of $18.33 and a 200 day moving average price of $16.96.

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.