Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,850,000 shares, a growth of 12.3% from the October 15th total of 4,320,000 shares. Based on an average daily volume of 517,900 shares, the short-interest ratio is currently 9.4 days. Currently, 16.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James lifted their price objective 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. TD Cowen boosted their target price on shares of Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other Grindr news, CAO Kye Chen sold 4,964 shares of Grindr stock in a transaction on Monday, October 7th. The shares were sold at an average price of $11.81, for a total transaction of $58,624.84. Following the completion of the transaction, the chief accounting officer now directly owns 130,598 shares of the company’s stock, valued at $1,542,362.38. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Fu Bin Lu sold 195,600 shares of Grindr stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $14.39, for a total transaction 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. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 296,549 shares of company stock worth $4,195,896. Insiders own 76.40% of the company’s stock.

Institutional Trading of Grindr

A number of large investors have recently made changes to their positions in GRND. Vanguard Group Inc. lifted its stake in Grindr by 5.7% in the first quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock worth $5,778,000 after acquiring an additional 30,574 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Grindr by 16.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares during the period. Simplicity Wealth LLC purchased a new stake in Grindr in the second quarter worth about $303,000. SG Americas Securities LLC purchased a new stake in Grindr in the second quarter worth about $718,000. Finally, Quest Partners LLC lifted its stake 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 acquiring an additional 12,677 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.

Grindr Trading Up 4.3 %

Shares of GRND traded up $0.61 during trading hours on Monday, reaching $14.76. 545,328 shares of the company traded hands, compared to its average volume of 528,128. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -42.16 and a beta of 0.33. Grindr has a 12-month low of $6.12 and a 12-month high of $15.21. The stock’s fifty day moving average price is $12.92 and its 200 day moving average price 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.