Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,080,000 shares, an increase of 18.5% from the November 15th total of 5,130,000 shares. Currently, 26.0% of the shares of the stock are sold short. Based on an average trading volume of 594,200 shares, the short-interest ratio is presently 10.2 days.

Grindr Stock Up 8.4 %

NYSE:GRND traded up $1.33 during mid-day trading on Monday, reaching $17.07. 1,100,943 shares of the company were exchanged, compared to its average volume of 540,595. Grindr has a 12 month low of $7.83 and a 12 month high of $17.16. The company has a fifty day moving average of $14.17 and a 200 day moving average of $12.36. The stock has a market cap of $3.01 billion, a PE ratio of -48.49 and a beta of 0.37.

Insider Buying and Selling

In other Grindr news, CAO Kye Chen sold 4,964 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $11.81, for a total transaction of $58,624.84. Following the sale, the chief accounting officer now owns 130,598 shares in the company, valued at approximately $1,542,362.38. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Zachary Katz sold 3,058 shares of Grindr 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. This trade 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 2,405,870 shares of company stock worth $36,366,731. Corporate insiders own 76.40% of the company’s stock.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRND. 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 holdings 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 worth $120,000 after acquiring an additional 1,667 shares during the period. Point72 DIFC Ltd bought a new stake in Grindr in the 2nd quarter valued at $136,000. Quest Partners LLC boosted its stake in Grindr by 9,055.0% in the 2nd 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 period. Finally, Centiva Capital LP bought a new position in Grindr during the 3rd quarter worth about $160,000. Institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

GRND has been the topic of several recent research reports. TD Cowen upped 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. The Goldman Sachs Group initiated coverage on Grindr in a research note on Monday. They issued a “buy” rating and a $20.00 price objective on the stock. Raymond James increased their target price on Grindr from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Grindr in a research report on Monday.

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.