Grindr Inc. (NYSE:GRND) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its stake in Grindr Inc. (NYSE:GRND) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,916 shares of the company’s stock after acquiring an additional 214,102 shares during the period. Nuveen Asset Management LLC owned 0.45% of Grindr worth $14,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in Grindr by 11.7% in the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company’s stock valued at $1,703,000 after acquiring an additional 9,968 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Grindr by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company’s stock valued at $944,000 after acquiring an additional 623 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Grindr by 140.5% during the fourth quarter. SG Americas Securities LLC now owns 155,893 shares of the company’s stock worth $2,781,000 after buying an additional 91,077 shares during the period. Swiss National Bank acquired a new stake in shares of Grindr during the fourth quarter worth about $926,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Grindr by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 33,919 shares of the company’s stock worth $605,000 after buying an additional 3,341 shares during the period. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Stock Up 1.1%

Shares of NYSE:GRND opened at $23.99 on Monday. The company has a market cap of $4.70 billion, a P/E ratio of -68.53 and a beta of 0.28. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $24.80. The company has a 50-day moving average price of $20.37 and a 200 day moving average price of $18.08.

Grindr (NYSE:GRND) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. Analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at Grindr

In other Grindr news, insider Zachary Katz sold 3,058 shares of the 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 completion of the transaction, the insider now directly owns 613,800 shares of the company’s stock, valued at approximately $9,961,974. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J Michael Gearon, Jr. sold 477,570 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $23.64, for a total transaction of $11,289,754.80. Following the completion of the transaction, the director now directly owns 5,500,000 shares of the company’s stock, valued at approximately $130,020,000. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,054,770 shares of company stock valued at $48,848,167. Corporate insiders own 76.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a research note on Friday, May 9th. Citigroup reiterated an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $24.00 target price on shares of Grindr in a research note on Monday, April 21st. Wall Street Zen upgraded shares of Grindr from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Grindr from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Grindr has a consensus rating of “Buy” and an average target price of $23.25.

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.