Grindr Inc. (NYSE:GRND) Shares Purchased by Skye Global Management LP

Skye Global Management LP raised its stake in Grindr Inc. (NYSE:GRND) by 23.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592,000 shares of the company’s stock after acquiring an additional 112,000 shares during the quarter. Grindr makes up approximately 0.2% of Skye Global Management LP’s investment portfolio, making the stock its 26th largest position. Skye Global Management LP owned approximately 0.34% of Grindr worth $7,063,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Grindr by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after purchasing an additional 30,574 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Grindr by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares during the period. Simplicity Wealth LLC acquired a new stake in Grindr in the second quarter valued at approximately $303,000. SG Americas Securities LLC purchased a new stake in shares of Grindr in the second quarter valued at approximately $718,000. Finally, Quest Partners LLC lifted its position in shares of Grindr by 9,055.0% during the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after buying an additional 12,677 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Buying and Selling at Grindr

In other Grindr news, CAO Kye Chen sold 16,187 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $11.68, for a total transaction of $189,064.16. Following the completion of the sale, the chief accounting officer now owns 138,604 shares of the company’s stock, valued at $1,618,894.72. This trade represents a 10.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nathan Richardson sold 5,234 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.00, for a total value of $78,510.00. Following the transaction, the director now owns 27,408 shares of the company’s stock, valued at approximately $411,120. This represents a 16.03 % decrease in their ownership of the stock. 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. 76.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Grindr Stock Performance

Shares of Grindr stock opened at $15.00 on Friday. The stock’s 50 day simple moving average is $13.34 and its 200-day simple moving average is $11.85. Grindr Inc. has a 1-year low of $6.12 and a 1-year high of $15.39.

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.