Anthracite Investment Company Inc. Acquires Shares of 100,985 Grindr Inc. (NYSE:GRND)

Anthracite Investment Company Inc. bought a new position in shares of Grindr Inc. (NYSE:GRND) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 100,985 shares of the company’s stock, valued at approximately $1,802,000. Anthracite Investment Company Inc. owned 0.06% of Grindr as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GRND. KLP Kapitalforvaltning AS purchased a new position in shares of Grindr in the fourth quarter valued at $89,000. Quantbot Technologies LP grew its holdings in Grindr by 110.8% during the 4th quarter. Quantbot Technologies LP now owns 115,489 shares of the company’s stock valued at $2,060,000 after buying an additional 60,704 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Grindr during the fourth quarter valued at about $195,000. Teacher Retirement System of Texas purchased a new stake in shares of Grindr in the fourth quarter worth about $214,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Grindr in the fourth quarter valued at approximately $947,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

GRND has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Grindr in a research note on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. Raymond James reissued an “outperform” rating and set a $22.00 price objective on shares of Grindr in a research note on Thursday, March 6th. Citigroup restated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Grindr in a research report on Thursday, February 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Grindr

In other news, insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total transaction of $55,026.00. Following the transaction, the insider now directly owns 577,549 shares of the company’s stock, valued at approximately $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 11,173 shares of company stock valued at $187,729. Corporate insiders own 76.40% of the company’s stock.

Grindr Stock Up 0.2 %

GRND opened at $18.16 on Wednesday. The business’s fifty day simple moving average is $17.58 and its 200 day simple moving average is $15.56. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $19.20. The stock has a market cap of $3.78 billion, a PE ratio of -51.89 and a beta of 0.30.

Grindr 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.