Cornercap Investment Counsel Inc. Lowers Stake in Grindr Inc. (NYSE:GRND)

Cornercap Investment Counsel Inc. lowered its stake in shares of Grindr Inc. (NYSE:GRND) by 51.1% in the third quarter, HoldingsChannel.com reports. The firm owned 26,782 shares of the company’s stock after selling 27,946 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Grindr were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GRND. Vanguard Group Inc. boosted its position in shares of Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after purchasing an additional 30,574 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Grindr by 16.5% during 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 purchased a new position in shares of Grindr during the 2nd quarter worth approximately $303,000. SG Americas Securities LLC purchased a new position in shares of Grindr during the 2nd quarter worth approximately $718,000. Finally, Quest Partners LLC boosted 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 worth $157,000 after purchasing an additional 12,677 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Buying and Selling at Grindr

In other news, CAO Kye Chen sold 16,187 shares of Grindr stock in a transaction 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 directly owns 138,604 shares of the company’s stock, valued at approximately $1,618,894.72. The trade was a 10.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vandana Mehta-Krantz sold 60,776 shares of Grindr stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total transaction of $868,489.04. Following the sale, the chief financial officer now directly owns 722,126 shares of the company’s stock, valued at approximately $10,319,180.54. This trade represents a 7.76 % 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 90 days. Company insiders own 76.40% of the company’s stock.

Grindr Stock Down 1.2 %

Shares of GRND stock opened at $14.15 on Monday. Grindr Inc. has a 52 week low of $6.12 and a 52 week high of $15.21. The stock has a market capitalization of $2.49 billion, a PE ratio of -40.43 and a beta of 0.33. The firm has a 50 day moving average of $12.86 and a two-hundred day moving average of $11.60.

Analysts Set New Price Targets

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

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.