Dynamic Technology Lab Private Ltd Makes New Investment in Grindr Inc. (NYSE:GRND)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Grindr Inc. (NYSE:GRND) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 67,146 shares of the company’s stock, valued at approximately $801,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GRND. Algert Global LLC purchased a new position in Grindr in the 3rd quarter worth $830,000. Charles Schwab Investment Management Inc. raised its stake in shares of Grindr by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock worth $2,287,000 after purchasing an additional 17,678 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Grindr by 277.4% during the third quarter. Quest Partners LLC now owns 48,375 shares of the company’s stock worth $577,000 after purchasing an additional 35,558 shares during the period. Victory Capital Management Inc. purchased a new stake in Grindr in the third quarter valued at approximately $321,000. Finally, Aigen Investment Management LP acquired a new position in Grindr in the 3rd quarter worth approximately $225,000. 7.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Grindr

In related news, Director Nathan Richardson sold 5,234 shares of Grindr stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.00, for a total value of $78,510.00. Following the completion of the transaction, the director now owns 27,408 shares in the company, valued at $411,120. The trade was a 16.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Fu Bin Lu sold 195,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total value of $2,814,684.00. Following the completion of the transaction, the director now directly owns 34,977,181 shares of the company’s stock, valued at $503,321,634.59. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 296,549 shares of company stock worth $4,195,896 in the last three months. Company insiders own 76.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Grindr Trading Down 0.5 %

Grindr stock opened at $15.00 on Thursday. The firm has a market cap of $2.65 billion, a PE ratio of -42.86 and a beta of 0.33. The stock’s 50 day simple moving average is $13.29 and its two-hundred day simple moving average is $11.82. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.39.

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.