Principal Financial Group Inc. Acquires New Shares in Grindr Inc. (NYSE:GRND)

Principal Financial Group Inc. bought a new position in shares of Grindr Inc. (NYSE:GRND) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,578 shares of the company’s stock, valued at approximately $365,000.

Several other large investors also recently bought and sold shares of GRND. nVerses Capital LLC purchased a new stake in shares of Grindr in the 3rd quarter worth about $27,000. Point72 DIFC Ltd acquired a new stake in Grindr during the 2nd quarter valued at $136,000. Quest Partners LLC increased its position in Grindr by 9,055.0% during the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after buying an additional 12,677 shares in the last quarter. Centiva Capital LP purchased a new stake in Grindr during the 3rd quarter worth about $160,000. Finally, The Manufacturers Life Insurance Company raised its stake in Grindr by 9.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after purchasing an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Ratings Changes

GRND has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of Grindr in a research report on Monday, December 16th. They issued a “buy” rating and a $20.00 price objective for the company. Raymond James upped their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. TD Cowen raised their price target on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a report on Monday, December 16th.

Grindr Price Performance

Shares of NYSE:GRND opened at $17.47 on Tuesday. The business has a 50-day moving average of $15.68 and a two-hundred day moving average of $13.27. The firm has a market capitalization of $3.09 billion, a PE ratio of -49.91 and a beta of 0.31. Grindr Inc. has a 12 month low of $7.93 and a 12 month high of $18.42.

Insider Transactions at Grindr

In related news, Director Nathan Richardson sold 5,234 shares of Grindr stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.00, for a total transaction of $78,510.00. Following the transaction, the director now owns 27,408 shares in the company, valued at approximately $411,120. The trade was a 16.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Zachary Katz sold 3,058 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the completion of the sale, the insider now owns 586,722 shares of the company’s stock, valued at approximately $8,390,124.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,395,942 shares of company stock worth $36,249,481. 76.40% of the stock is currently owned by company insiders.

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.