Janus Henderson Group PLC Buys Shares of 12,700 Grindr Inc. (NYSE:GRND)

Janus Henderson Group PLC purchased a new stake in shares of Grindr Inc. (NYSE:GRND - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,700 shares of the company's stock, valued at approximately $227,000.

Several other institutional investors also recently bought and sold shares of GRND. Russell Investments Group Ltd. boosted its holdings in Grindr by 31.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after purchasing an additional 642 shares during the last quarter. Quarry LP boosted its stake in shares of Grindr by 209.2% during the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after buying an additional 2,316 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Grindr during the fourth quarter worth approximately $89,000. R Squared Ltd acquired a new stake in shares of Grindr during the fourth quarter worth approximately $101,000. Finally, Polymer Capital Management HK LTD acquired a new stake in Grindr in the fourth quarter valued at $178,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Grindr

In other news, insider Zachary Katz sold 3,058 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total transaction of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares of the company's stock, valued at approximately $9,961,974. This trade represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $23.71, for a total value of $11,855,000.00. Following the sale, the director now owns 6,619,727 shares of the company's stock, valued at approximately $156,953,727.17. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,997,772 shares of company stock worth $95,317,638 over the last three months. Company insiders own 76.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on GRND shares. Raymond James reiterated an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Grindr in a research report on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 price objective on shares of Grindr in a report on Monday, April 21st. The Goldman Sachs Group increased their target price on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Finally, Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Grindr has a consensus rating of "Buy" and an average target price of $23.25.

Grindr Stock Performance

Shares of GRND stock traded up $0.69 during trading on Thursday, hitting $24.55. 2,357,581 shares of the company were exchanged, compared to its average volume of 1,112,090. The business's 50-day simple moving average is $20.91 and its 200 day simple moving average is $18.28. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $25.08. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -70.15 and a beta of 0.28.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. On average, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Grindr Company 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.