Short Interest in Grindr Inc. (NYSE:GRND) Rises By 34.3%

Grindr Inc. (NYSE:GRND - Get Free Report) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 12,190,000 shares, an increase of 34.3% from the January 31st total of 9,080,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 11.4 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on GRND shares. JMP Securities reissued a "market outperform" rating and issued a $21.00 target price on shares of Grindr in a research note on Thursday, February 6th. The Goldman Sachs Group started coverage on Grindr in a research report on Monday, December 16th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Raymond James restated an "outperform" rating and set a $21.00 target price (up from $19.00) on shares of Grindr in a research report on Friday, January 24th.

Grindr Price Performance

Shares of GRND stock traded down $0.53 during trading hours on Friday, reaching $15.18. The company had a trading volume of 3,946,356 shares, compared to its average volume of 1,477,788. Grindr has a 1-year low of $8.95 and a 1-year high of $19.20. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -43.36 and a beta of 0.30. The company has a 50 day moving average of $17.76 and a 200 day moving average of $15.09.

Grindr (NYSE:GRND - Get Free Report) last released its earnings results on Friday, March 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. As a group, sell-side analysts forecast that Grindr will post 0.29 EPS for the current fiscal year.

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Insider Activity

In other Grindr news, Director James Fu Bin Lu sold 750,000 shares of the firm'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 completion of the sale, the director now owns 31,540,655 shares in the company, valued at approximately $477,525,516.70. This trade represents a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $16.40, for a total transaction of $50,151.20. Following the completion of the transaction, the insider now directly owns 580,606 shares of the company's stock, valued at approximately $9,521,938.40. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 757,115 shares of company stock worth $11,476,757. 76.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GRND. PharVision Advisers LLC bought a new stake in Grindr in the fourth quarter valued at approximately $248,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Grindr in the 4th quarter valued at $884,000. Voloridge Investment Management LLC increased its position in shares of Grindr by 251.8% in the 4th quarter. Voloridge Investment Management LLC now owns 451,000 shares of the company's stock valued at $8,046,000 after buying an additional 322,792 shares in the last quarter. Woodline Partners LP acquired a new stake in Grindr during the 4th quarter worth $7,436,000. Finally, Squarepoint Ops LLC lifted its holdings in Grindr by 32.4% during the fourth quarter. Squarepoint Ops LLC now owns 496,401 shares of the company's stock worth $8,856,000 after acquiring an additional 121,530 shares in the last quarter. 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.