State Street Corp Has $7.37 Million Holdings in Grindr Inc. (NYSE:GRND)

State Street Corp decreased its holdings in Grindr Inc. (NYSE:GRND) by 15.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 617,334 shares of the company’s stock after selling 116,116 shares during the quarter. State Street Corp owned 0.35% of Grindr worth $7,365,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Grindr in the third quarter valued at approximately $27,000. Point72 DIFC Ltd acquired a new position in Grindr in the 2nd quarter valued at $136,000. Quest Partners LLC lifted 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 valued at $157,000 after acquiring an additional 12,677 shares during the period. Centiva Capital LP bought a new stake in shares of Grindr during the 3rd quarter valued at $160,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after purchasing an additional 1,166 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GRND. TD Cowen boosted their price target on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Raymond James boosted their target price 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. The Goldman Sachs Group assumed coverage on shares of Grindr in a research report on Monday, December 16th. They set a “buy” rating and a $20.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research note on Monday, December 16th.

Grindr Stock Down 1.4 %

Grindr stock opened at $17.92 on Friday. The stock has a market cap of $3.16 billion, a PE ratio of -51.20 and a beta of 0.37. Grindr Inc. has a 12-month low of $7.93 and a 12-month high of $18.26. The business’s 50-day moving average price is $15.12 and its two-hundred day moving average price is $12.88.

Insider Activity

In other news, insider Zachary Katz sold 3,058 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total transaction of $43,729.40. Following the completion of the transaction, the insider now directly owns 586,722 shares in the company, valued at approximately $8,390,124.60. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Fu Bin Lu sold 750,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total value of $11,355,000.00. Following the sale, the director now directly owns 31,540,655 shares in the company, valued at approximately $477,525,516.70. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,405,870 shares of company stock worth $36,366,731. Corporate 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.