Bank of America Corp DE Has $5.59 Million Position in Grindr Inc. (NYSE:GRND)

Bank of America Corp DE grew its position in shares of Grindr Inc. (NYSE:GRND - Free Report) by 47.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 313,238 shares of the company's stock after acquiring an additional 100,297 shares during the quarter. Bank of America Corp DE owned about 0.18% of Grindr worth $5,588,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its holdings in shares of Grindr by 11.7% during the fourth quarter. First Trust Advisors LP now owns 95,481 shares of the company's stock valued at $1,703,000 after acquiring an additional 9,968 shares during the period. Bank of New York Mellon Corp boosted 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 valued at $944,000 after acquiring an additional 623 shares during the period. Swiss National Bank acquired a new position in shares of Grindr during the fourth quarter valued at $926,000. Principal Financial Group Inc. boosted its holdings in shares of Grindr by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 33,919 shares of the company's stock valued at $605,000 after acquiring an additional 3,341 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Grindr by 721.8% during the fourth quarter. Legal & General Group Plc now owns 22,673 shares of the company's stock valued at $404,000 after acquiring an additional 19,914 shares during the period. Institutional investors and hedge funds own 7.22% of the company's stock.

Wall Street Analyst Weigh In

GRND has been the subject of several analyst reports. Citigroup reissued an "outperform" rating on shares of Grindr in a report on Thursday, March 6th. Raymond James reissued an "outperform" rating and set a $26.00 price target (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Wall Street Zen raised shares of Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group upped their price objective on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, 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. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Grindr presently has an average rating of "Buy" and an average price target of $23.25.

Insider Buying and Selling at Grindr

In other Grindr news, Director J Michael Gearon, Jr. sold 500,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $23.71, for a total transaction of $11,855,000.00. Following the completion of the sale, the director now directly owns 6,619,727 shares of the company's stock, valued at approximately $156,953,727.17. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 200,811 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $24.05, for a total value of $4,829,504.55. Following the completion of the transaction, the director now owns 28,082,445 shares in the company, valued at $675,382,802.25. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,585,752 shares of company stock valued at $61,590,079. 76.40% of the stock is currently owned by corporate insiders.

Grindr Stock Performance

NYSE GRND traded up $0.69 on Thursday, reaching $24.55. The company's stock had a trading volume of 2,357,581 shares, compared to its average volume of 1,112,090. Grindr Inc. has a twelve month low of $8.95 and a twelve month high of $25.05. The stock has a market cap of $4.81 billion, a PE ratio of -70.15 and a beta of 0.28. The firm's 50 day moving average is $20.78 and its two-hundred day moving average is $18.22.

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

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.