Grindr Inc. (NYSE:GRND) Stock Position Lifted by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its holdings in Grindr Inc. (NYSE:GRND - Free Report) by 37.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 792,916 shares of the company's stock after acquiring an additional 214,102 shares during the period. Nuveen Asset Management LLC owned 0.45% of Grindr worth $14,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company's stock valued at $944,000 after purchasing an additional 623 shares during the period. Russell Investments Group Ltd. grew its position 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 in the last quarter. Bleakley Financial Group LLC raised its holdings in Grindr by 5.6% during the fourth 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 in the last quarter. Savant Capital LLC boosted its holdings in shares of 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 buying an additional 1,689 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Grindr by 209.2% in the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after purchasing an additional 2,316 shares during the period. Institutional investors and hedge funds own 7.22% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, insider Zachary Katz sold 3,058 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.23, for a total value of $49,631.34. Following the completion of the sale, the insider now owns 613,800 shares in the company, valued at $9,961,974. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Michael Gearon, Jr. sold 500,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $23.71, for a total value 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 $156,953,727.17. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,997,772 shares of company stock worth $95,317,638. Corporate insiders own 76.40% of the company's stock.

Grindr Stock Down 1.1%

Shares of Grindr stock traded down $0.27 during midday trading on Friday, hitting $24.27. The company had a trading volume of 365,973 shares, compared to its average volume of 1,751,610. The company has a fifty day simple moving average of $20.91 and a 200 day simple moving average of $18.28. Grindr Inc. has a 12-month low of $8.95 and a 12-month high of $25.08. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -69.33 and a beta of 0.28.

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%. As a group, analysts expect that Grindr Inc. will post 0.29 EPS for the current 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.