Glazer Capital LLC recently announced the acquisition of new stake in Grindr Inc. (NYSE:GRND). The institutional investor has increased its shareholding in the Technology company by 118.33% to 2.75 million shares with purchase of 1.49 million shares. This fresh investment now brings its stake to 1.58% valued currently at $12.76 million. In addition, W.R. Berkley Corp. raised its holdings by 0.48 million to 1.22 million shares. And Dryden Capital LLC has lifted its position by 32.23% or 0.26 million shares – to 1.08 million shares.
With over 0.14 million Grindr Inc. (GRND) shares trading Friday and a closing price of $5.64 on the day, the dollar volume was approximately $0.81 million. The shares have shown a negative half year performance of -45.19% and its price on 01/13/23 gained nearly 0.36%. Currently, there are 34.50M common shares owned by the public and among those 17.85M shares have been available to trade.
The top 3 mutual fund holders in Grindr Inc. are First Trust Merger Arbitrage Fund, Lumyna – MW TOPS UCITS Fund, and Lumyna – MW Systematic Alpha UCIT. First Trust Merger Arbitrage Fund owns 0.14 million shares of the company’s stock, all valued at over $0.63 million. Lumyna – MW Systematic Alpha UCIT bought 32372.0 shares to bring its total holdings to over 32372.0 shares at a value of $0.15 million. Lumyna – MW Systematic Alpha UCIT now owns shares totaling to 0.02% of the shares outstanding.
Shares of Grindr Inc. (NYSE: GRND) opened at $5.48, down -$0.14 from a prior closing price of $5.62. However, the script later moved the day high at 5.72, up 0.36%. The company’s stock has a 5-day price change of 8.46% and -45.77% over the past three months. GRND shares are trading 21.29% year to date (YTD), with the 12-month market performance down to -44.38% lower. It has a 12-month low price of $4.50 and touched a high of $71.51 over the same period. GRND has an average intraday trading volume of 556.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.51%, -31.10%, and -42.31% respectively.
Institutional ownership of Grindr Inc. (NYSE: GRND) shares accounts for 12.50% of the company’s 34.50M shares outstanding. Mutual fund holders own 12.34%, while other institutional holders and individual stakeholders account for 67.44% and 0.16% respectively.
It has a market capitalization of $975.21M. The earnings-per-share (ttm) stands at -$0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.91% over the week and 8.60% over the month.