Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,850,000 shares, an increase of 12.3% from the October 15th total of 4,320,000 shares. Approximately 16.5% of the shares of the company are sold short. Based on an average trading volume of 517,900 shares, the days-to-cover ratio is presently 9.4 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GRND shares. TD Cowen raised their price objective on shares of Grindr from $14.00 to $17.00 and gave the stock 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 research note on Friday, November 8th.

Insider Activity

In related news, Director James Fu Bin Lu sold 195,600 shares of the firm’s stock in a transaction that occurred on 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 owns 34,977,181 shares of the company’s stock, valued at approximately $503,321,634.59. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the insider now directly owns 586,722 shares in the company, valued at approximately $8,390,124.60. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 296,549 shares of company stock valued at $4,195,896 in the last 90 days. 76.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Grindr during the 3rd quarter worth approximately $27,000. Price T Rowe Associates Inc. MD raised its position in shares of Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after buying an additional 1,667 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Grindr in the second quarter worth $136,000. Quest Partners LLC increased its position in Grindr by 9,055.0% in the second quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock worth $157,000 after purchasing an additional 12,677 shares during the last quarter. Finally, Centiva Capital LP bought a new stake in Grindr in the third quarter worth $160,000. Institutional investors own 7.22% of the company’s stock.

Grindr Trading Up 4.3 %

NYSE GRND traded up $0.61 on Monday, reaching $14.76. 545,328 shares of the stock were exchanged, compared to its average volume of 528,128. Grindr has a one year low of $6.12 and a one year high of $15.21. The firm has a market capitalization of $2.60 billion, a PE ratio of -42.16 and a beta of 0.33. The company’s 50-day simple moving average is $12.92 and its two-hundred day simple moving average is $11.63.

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.