Short Interest in Grindr Inc. (NYSE:GRND) Increases By 33.5%

Grindr Inc. (NYSE:GRND - Get Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 6,820,000 shares, an increase of 33.5% from the December 31st total of 5,110,000 shares. Approximately 24.6% of the shares of the company are sold short. Based on an average trading volume of 721,900 shares, the days-to-cover ratio is currently 9.4 days.

Insider Activity at Grindr

In related news, CFO Vandana Mehta-Krantz sold 60,776 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $14.29, for a total value of $868,489.04. Following the transaction, the chief financial officer now owns 722,126 shares of the company's stock, valued at $10,319,180.54. This represents a 7.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Zachary Katz sold 3,058 shares of Grindr 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 completion of the transaction, the insider now owns 586,722 shares in the company, valued at $8,390,124.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,399,000 shares of company stock worth $36,303,532. 76.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grindr

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in shares of Grindr by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 23,632 shares of the company's stock worth $286,000 after purchasing an additional 2,050 shares in the last quarter. Sei Investments Co. acquired a new stake in Grindr in the 2nd quarter worth about $483,000. Cubist Systematic Strategies LLC raised its position in shares of Grindr by 245.3% in the second quarter. Cubist Systematic Strategies LLC now owns 91,119 shares of the company's stock valued at $1,115,000 after buying an additional 64,733 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Grindr by 264.4% during the 2nd quarter. Squarepoint Ops LLC now owns 260,814 shares of the company's stock valued at $3,192,000 after acquiring an additional 189,237 shares during the period. Finally, Susquehanna Fundamental Investments LLC lifted its position in Grindr by 78.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 36,750 shares of the company's stock worth $450,000 after purchasing an additional 16,125 shares during the period. 7.22% of the stock is currently owned by institutional investors.

Grindr Trading Up 1.1 %

Shares of NYSE GRND traded up $0.20 during mid-day trading on Monday, reaching $18.04. The company had a trading volume of 1,050,482 shares, compared to its average volume of 1,064,228. Grindr has a 1-year low of $7.93 and a 1-year high of $18.42. The stock has a market cap of $3.19 billion, a PE ratio of -51.53 and a beta of 0.30. The company has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $14.06.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.02). The business had revenue of $89.33 million during the quarter, compared to the consensus estimate of $88.50 million. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, research analysts expect that Grindr will post 0.29 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GRND shares. The Goldman Sachs Group assumed coverage on Grindr in a report on Monday, December 16th. They issued a "buy" rating and a $20.00 target price for the company. TD Cowen upped their target price on shares of Grindr from $14.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. JMP Securities restated a "market outperform" rating and set a $21.00 price objective on shares of Grindr in a report on Monday, December 16th. Finally, Raymond James reissued an "outperform" rating and set a $21.00 price target (up from $19.00) on shares of Grindr in a research report on Friday, January 24th.

About Grindr

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.