Grindr Inc. (NYSE:GRND) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in shares of Grindr Inc. (NYSE:GRND - Free Report) by 1,277.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,511 shares of the company's stock after acquiring an additional 22,732 shares during the quarter. California State Teachers Retirement System's holdings in Grindr were worth $437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GRND. BIT Capital GmbH lifted its position in Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock valued at $71,165,000 after purchasing an additional 349,189 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Grindr by 85.2% in the 4th quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock worth $19,928,000 after acquiring an additional 513,770 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Grindr by 50.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 974,308 shares of the company's stock worth $17,382,000 after acquiring an additional 327,208 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Grindr by 101.3% in the 4th quarter. Federated Hermes Inc. now owns 866,058 shares of the company's stock worth $15,450,000 after acquiring an additional 435,748 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Grindr by 37.0% in the 4th quarter. Nuveen Asset Management LLC now owns 792,916 shares of the company's stock worth $14,146,000 after acquiring an additional 214,102 shares during the last quarter. Institutional investors own 7.22% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Grindr

In other Grindr news, Director J Michael Gearon, Jr. sold 19,432 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $24.75, for a total value of $480,942.00. Following the transaction, the director now owns 5,480,568 shares of the company's stock, valued at $135,644,058. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Fu Bin Lu sold 200,811 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $24.05, for a total transaction of $4,829,504.55. Following the sale, the director now directly 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. Insiders sold 4,517,581 shares of company stock valued at $108,031,475 over the last 90 days. 76.40% of the stock is currently owned by corporate insiders.

Grindr Trading Down 0.6%

NYSE GRND traded down $0.13 on Friday, hitting $22.99. 1,003,579 shares of the company's stock traded hands, compared to its average volume of 1,155,924. Grindr Inc. has a 1-year low of $9.42 and a 1-year high of $25.13. The firm's 50-day moving average price is $22.14 and its two-hundred day moving average price is $18.97. The firm has a market capitalization of $4.50 billion, a PE ratio of -65.67 and a beta of 0.31.

Grindr (NYSE:GRND - Get Free Report) last posted its earnings results 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, research analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

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.