Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 6,080,000 shares, an increase of 18.5% from the November 15th total of 5,130,000 shares. Based on an average daily trading volume, of 594,200 shares, the short-interest ratio is currently 10.2 days. Currently, 26.0% of the shares of the company are short sold.

Insider Activity

In related news, Director James Fu Bin Lu sold 750,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total value of $11,355,000.00. Following the transaction, the director now owns 31,540,655 shares in the company, valued at approximately $477,525,516.70. This represents a 2.32 % decrease in their position. 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 that occurred on Wednesday, November 13th. The stock was sold at an average price of $14.30, for a total transaction of $43,729.40. Following the sale, the insider now owns 586,722 shares of the company’s stock, valued at $8,390,124.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,405,870 shares of company stock valued at $36,366,731 over the last three months. Insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

Large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Grindr in the third quarter valued at about $27,000. Point72 DIFC Ltd bought a new stake in shares of Grindr during the 2nd quarter valued at approximately $136,000. Price T Rowe Associates Inc. MD increased its position in Grindr by 16.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after purchasing an additional 1,667 shares in the last quarter. Quest Partners LLC lifted its stake in Grindr by 9,055.0% in the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after purchasing an additional 12,677 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in Grindr in the third quarter valued at approximately $160,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GRND shares. JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a research report on Monday. TD Cowen boosted their price objective on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Raymond James raised their target price on shares of Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group assumed coverage on Grindr in a research note on Monday. They issued a “buy” rating and a $20.00 price target for the company.

Grindr Trading Up 8.4 %

Grindr stock traded up $1.33 during trading hours on Monday, reaching $17.07. 1,100,943 shares of the stock were exchanged, compared to its average volume of 540,595. Grindr has a twelve month low of $7.83 and a twelve month high of $17.16. The company has a market cap of $3.01 billion, a P/E ratio of -48.49 and a beta of 0.37. The stock has a 50 day moving average of $14.17 and a two-hundred day moving average of $12.36.

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.