Wells Fargo & Company MN Boosts Holdings in Grindr Inc. (NYSE:GRND)

Wells Fargo & Company MN increased its holdings in shares of Grindr Inc. (NYSE:GRND) by 51.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,472 shares of the company’s stock after buying an additional 3,911 shares during the period. Wells Fargo & Company MN’s holdings in Grindr were worth $205,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. BIT Capital GmbH grew its position in shares of Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company’s stock worth $71,165,000 after buying an additional 349,189 shares in the last quarter. Norges Bank purchased a new stake in shares of Grindr in the 4th quarter valued at approximately $6,035,000. JPMorgan Chase & Co. raised its holdings in shares of Grindr by 66.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock valued at $2,772,000 after purchasing an additional 93,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Grindr by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 195,298 shares of the company’s stock valued at $3,484,000 after purchasing an additional 3,612 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Grindr by 140.5% during the 4th quarter. SG Americas Securities LLC now owns 155,893 shares of the company’s stock worth $2,781,000 after purchasing an additional 91,077 shares during the last quarter. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Trading Up 1.8 %

Shares of NYSE GRND opened at $24.45 on Friday. The stock has a market cap of $5.09 billion, a P/E ratio of -69.87 and a beta of 0.28. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $24.80. The stock has a 50 day moving average of $18.77 and a two-hundred day moving average of $17.24.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. As a group, research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GRND. Raymond James reaffirmed an “outperform” rating and set a $22.00 price target on shares of Grindr in a report on Thursday, March 6th. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grindr has an average rating of “Buy” and an average price target of $20.75.

Insider Buying and Selling at Grindr

In other news, insider Zachary Katz sold 3,058 shares of Grindr stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the sale, the insider now owns 613,800 shares of the company’s stock, valued at $9,961,974. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,115 shares of company stock valued at $139,397 in the last ninety days. Insiders own 76.40% of the company’s stock.

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.