Petrus Trust Company LTA Boosts Stake in Grindr Inc. (NYSE:GRND)

Petrus Trust Company LTA boosted its position in Grindr Inc. (NYSE:GRND) by 330.7% in the third quarter, HoldingsChannel.com reports. The firm owned 60,312 shares of the company’s stock after acquiring an additional 46,309 shares during the period. Petrus Trust Company LTA’s holdings in Grindr were worth $720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in Grindr by 9.3% in 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. Price T Rowe Associates Inc. MD boosted its position 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 in the last quarter. Hsbc Holdings PLC raised its position in shares of Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock worth $286,000 after acquiring an additional 2,050 shares during the period. nVerses Capital LLC acquired a new position in shares of Grindr in the third quarter worth about $27,000. Finally, Bleakley Financial Group LLC raised its stake in shares of Grindr by 9.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after buying an additional 2,371 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Stock Performance

NYSE GRND opened at $15.28 on Wednesday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -43.66 and a beta of 0.37. Grindr Inc. has a one year low of $6.72 and a one year high of $15.50. The firm has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $12.01.

Insider Buying and Selling

In other news, CAO Kye Chen sold 16,187 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 in the company, valued at approximately $1,618,894.72. The trade was a 10.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nathan Richardson sold 5,234 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00. Following the completion of the transaction, the director now directly owns 27,408 shares in the company, valued at $411,120. This trade represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 296,549 shares of company stock valued at $4,195,896 in the last three months. 76.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.