Teacher Retirement System of Texas Invests $214,000 in Grindr Inc. (NYSE:GRND)

Teacher Retirement System of Texas bought a new stake in Grindr Inc. (NYSE:GRND) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,014 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRND. Bank of New York Mellon Corp grew its holdings in shares of Grindr by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company’s stock worth $944,000 after buying an additional 623 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Grindr by 9.3% during the third quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock worth $163,000 after acquiring an additional 1,166 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Grindr by 5.6% in the 4th quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company’s stock worth $512,000 after acquiring an additional 1,524 shares during the period. Savant Capital LLC raised its holdings in Grindr by 9.6% in the 4th quarter. Savant Capital LLC now owns 19,325 shares of the company’s stock valued at $345,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Grindr by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 33,919 shares of the company’s stock worth $605,000 after purchasing an additional 3,341 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Grindr Trading Up 1.1 %

Shares of Grindr stock opened at $18.71 on Thursday. The business’s fifty day moving average price is $17.71 and its 200 day moving average price is $15.80. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $19.20. The stock has a market capitalization of $3.90 billion, a P/E ratio of -53.46 and a beta of 0.30.

Insider Transactions at Grindr

In other Grindr news, insider Zachary Katz sold 3,057 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $18.00, for a total value of $55,026.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 11,173 shares of company stock worth $187,729 in the last three months. 76.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GRND shares. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Grindr in a research report on Thursday, February 6th. The Goldman Sachs Group began coverage on Grindr in a report on Monday, December 16th. They issued a “buy” rating and a $20.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Finally, Raymond James reissued an “outperform” rating and issued a $22.00 target price on shares of Grindr in a research report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.