Anthracite Investment Company Inc. Makes New Investment in Grindr Inc. (NYSE:GRND)

Anthracite Investment Company Inc. bought a new stake in shares of Grindr Inc. (NYSE:GRND) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,985 shares of the company’s stock, valued at approximately $1,802,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Grindr by 66.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock worth $2,772,000 after acquiring an additional 93,005 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Grindr by 219.9% in the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after purchasing an additional 123,600 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock valued at $2,287,000 after buying an additional 17,678 shares during the period. Graypoint LLC bought a new stake in shares of Grindr during the 4th quarter valued at $1,211,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Grindr in the 3rd quarter worth about $365,000. Institutional investors own 7.22% of the company’s stock.

Grindr Trading Up 0.2 %

Grindr stock opened at $18.16 on Wednesday. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $19.20. The stock has a fifty day simple moving average of $17.58 and a two-hundred day simple moving average of $15.56. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -51.89 and a beta of 0.30.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $16.40, for a total value of $50,151.20. Following the sale, the insider now owns 580,606 shares in the company, valued at approximately $9,521,938.40. This trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 11,173 shares of company stock valued at $187,729 over the last ninety days. Insiders own 76.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GRND. Citigroup reissued an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. The Goldman Sachs Group initiated coverage on Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 price objective for the company. Raymond James reissued an “outperform” rating and issued a $22.00 target price on shares of Grindr in a research note on Thursday, March 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Grindr in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Grindr currently has an average rating of “Buy” and an average price target of $20.00.

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.