Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 6,820,000 shares, an increase of 33.5% from the December 15th total of 5,110,000 shares. Based on an average daily trading volume, of 721,900 shares, the short-interest ratio is presently 9.4 days. Currently, 24.6% of the shares of the stock are short sold.

Grindr Trading Down 0.0 %

GRND traded down $0.01 during trading on Thursday, reaching $16.92. 726,263 shares of the company’s stock were exchanged, compared to its average volume of 884,266. The firm has a fifty day moving average price of $16.14 and a two-hundred day moving average price of $13.55. The stock has a market capitalization of $2.99 billion, a PE ratio of -48.33 and a beta of 0.31. Grindr has a one year low of $7.93 and a one year high of $18.42.

Analysts Set New Price Targets

A number of research firms have recently commented on GRND. Raymond James boosted their price target on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Grindr in a research report on Monday, December 16th. TD Cowen upped their price target on shares of Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group started coverage on Grindr in a report on Monday, December 16th. They set a “buy” rating and a $20.00 price objective on the stock.

Insider Activity at Grindr

In other Grindr news, Director James Fu Bin Lu sold 195,600 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.39, for a total value of $2,814,684.00. Following the transaction, the director now directly owns 34,977,181 shares of the company’s stock, valued at $503,321,634.59. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nathan Richardson sold 4,766 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $15.00, for a total transaction of $71,490.00. Following the completion of the transaction, the director now owns 22,642 shares of the company’s stock, valued at $339,630. The trade was a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,399,000 shares of company stock worth $36,303,532. Company insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

Several institutional investors have recently modified their holdings of GRND. Point72 Asset Management L.P. lifted its holdings in Grindr by 219.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 179,800 shares of the company’s stock worth $2,145,000 after buying an additional 123,600 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Grindr by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 191,686 shares of the company’s stock worth $2,287,000 after acquiring an additional 17,678 shares during the last quarter. Yarra Square Partners LP acquired a new position in shares of Grindr in the second quarter worth approximately $3,005,000. Graypoint LLC bought a new stake in Grindr in the fourth quarter valued at approximately $1,211,000. Finally, Principal Financial Group Inc. acquired a new stake in Grindr during the 3rd quarter valued at approximately $365,000. Institutional investors own 7.22% of the company’s stock.

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.