Grindr Inc. (NYSE:GRND) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Grindr Inc. (NYSE:GRND) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,887 shares of the company’s stock after buying an additional 623 shares during the period. Bank of New York Mellon Corp’s holdings in Grindr were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRND. R Squared Ltd acquired a new position in shares of Grindr in the 4th quarter valued at $101,000. Centiva Capital LP purchased a new position in Grindr during the 3rd quarter worth $160,000. The Manufacturers Life Insurance Company increased its stake in Grindr by 9.3% in the third 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 period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Grindr in the fourth quarter valued at about $201,000. Finally, PDT Partners LLC acquired a new stake in shares of Grindr during the third quarter worth about $225,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Insider Activity at Grindr

In related news, insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were 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 owns 577,549 shares in the company, valued at $10,395,882. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 11,173 shares of company stock worth $187,729 over the last three months. 76.40% of the stock is currently owned by corporate insiders.

Grindr Trading Up 0.2 %

NYSE GRND opened at $18.16 on Wednesday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -51.89 and a beta of 0.30. The business’s 50 day moving average is $17.58 and its two-hundred day moving average is $15.56. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $19.20.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup restated an “outperform” rating on shares of Grindr in a research report on Thursday, March 6th. The Goldman Sachs Group assumed coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Grindr in a report on Thursday, February 6th. Finally, Raymond James reiterated an “outperform” rating and issued a $22.00 price objective on shares of Grindr in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.00.

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.