Savant Capital LLC Acquires 1,689 Shares of Grindr Inc. (NYSE:GRND)

Savant Capital LLC grew its position in Grindr Inc. (NYSE:GRND) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,325 shares of the company’s stock after purchasing an additional 1,689 shares during the quarter. Savant Capital LLC’s holdings in Grindr were worth $345,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Grindr by 66.7% in the third 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 during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Grindr by 219.9% during the third quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after acquiring an additional 123,600 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Grindr by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock worth $2,287,000 after buying an additional 17,678 shares during the period. Graypoint LLC bought a new stake in Grindr in the fourth quarter valued at $1,211,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Grindr during the 3rd quarter valued at $365,000. 7.22% of the stock is owned by institutional investors.

Grindr Stock Performance

Shares of GRND stock opened at $18.27 on Tuesday. The stock’s 50-day simple moving average is $17.44 and its 200-day simple moving average is $14.53. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -52.21 and a beta of 0.30. Grindr Inc. has a fifty-two week low of $7.93 and a fifty-two week high of $18.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. TD Cowen boosted their target price on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group assumed coverage on shares of Grindr in a research note on Monday, December 16th. They set a “buy” rating and a $20.00 price objective for the company. Raymond James reaffirmed an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Grindr in a research note on Friday, January 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Grindr in a research report on Thursday, February 6th.

Insider Activity at Grindr

In other Grindr news, insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the completion of the sale, the insider now directly owns 577,549 shares of the company’s stock, valued at $10,395,882. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 683,297 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $15.17, for a total value of $10,365,615.49. Following the completion of the sale, the director now directly owns 33,027,338 shares of the company’s stock, valued at $501,024,717.46. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,132,623 shares of company stock worth $32,481,656 over the last quarter. 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.