30,578 Shares in Grindr Inc. (NYSE:GRND) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new position in Grindr Inc. (NYSE:GRND) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 30,578 shares of the company’s stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Grindr in the 2nd quarter worth $718,000. Yarra Square Partners LP acquired a new position in shares of Grindr during the 2nd quarter worth about $3,005,000. Federated Hermes Inc. acquired a new position in shares of Grindr during the 2nd quarter worth about $3,640,000. Point72 Asset Management L.P. acquired a new position in shares of Grindr during the 2nd quarter worth about $688,000. Finally, Discovery Capital Management LLC CT acquired a new position in shares of Grindr during the 2nd quarter worth about $3,179,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director James Fu Bin Lu sold 195,600 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.39, for a total transaction of $2,814,684.00. Following the completion of the transaction, the director now directly owns 34,977,181 shares in the company, valued at approximately $503,321,634.59. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Zachary Katz sold 3,058 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $14.30, for a total value of $43,729.40. Following the sale, the insider now directly owns 586,722 shares in the company, valued at approximately $8,390,124.60. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 296,549 shares of company stock worth $4,195,896. Corporate insiders own 76.40% of the company’s stock.

Grindr Trading Up 0.8 %

Shares of GRND opened at $15.05 on Monday. The stock has a market capitalization of $2.66 billion, a PE ratio of -43.00 and a beta of 0.33. The firm’s 50 day moving average is $13.17 and its 200-day moving average is $11.76. Grindr Inc. has a 12 month low of $6.12 and a 12 month high of $15.21.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GRND shares. Raymond James upped their target price on shares of Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 8th. TD Cowen increased their price target on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

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.