Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 7,720,536 shares, a decline of 18.2% from the November 30th total of 9,434,993 shares. Based on an average trading volume of 1,268,416 shares, the days-to-cover ratio is presently 6.1 days. Approximately 12.9% of the shares of the company are short sold. Approximately 12.9% of the shares of the company are short sold. Based on an average trading volume of 1,268,416 shares, the days-to-cover ratio is presently 6.1 days.

Grindr Price Performance

Shares of GRND traded up $0.13 during midday trading on Wednesday, hitting $13.54. The company’s stock had a trading volume of 1,182,189 shares, compared to its average volume of 1,169,689. The company’s fifty day simple moving average is $13.68 and its two-hundred day simple moving average is $16.12. Grindr has a one year low of $11.73 and a one year high of $25.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -36.59 and a beta of 0.23.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same period in the previous year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities analysts expect that Grindr will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Grindr

In other news, Director George Raymond Zage III acquired 50,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were bought at an average price of $13.51 per share, with a total value of $675,500.00. Following the acquisition, the director owned 8,113,283 shares of the company’s stock, valued at $109,610,453.33. This trade represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Zachary Katz sold 29,383 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $12.52, for a total transaction of $367,875.16. Following the completion of the sale, the insider directly owned 461,137 shares in the company, valued at approximately $5,773,435.24. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 1,605,000 shares of company stock worth $21,080,000 and sold 4,018,517 shares worth $54,581,611. 67.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grindr

A number of hedge funds and other institutional investors have recently modified their holdings of GRND. Y Intercept Hong Kong Ltd bought a new stake in Grindr during the second quarter valued at approximately $1,832,000. Bryce Point Capital LLC bought a new position in Grindr during the 2nd quarter worth approximately $851,000. Tredje AP fonden bought a new position in shares of Grindr in the second quarter worth approximately $956,000. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Grindr in the 2nd quarter worth about $7,171,000. Finally, Shaker Investments LLC OH purchased a new position in shares of Grindr in the 2nd quarter valued at approximately $992,000. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GRND shares. Citizens Jmp lowered their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Monday. Finally, Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Grindr currently has an average rating of “Moderate Buy” and an average price target of $22.50.

About Grindr

Grindr, trading on the NYSE under the ticker symbol GRND, operates a global social networking and dating platform designed primarily for gay, bisexual, transgender and queer (GBTQ) individuals. The company’s core offering is a location-based mobile application that enables users to connect, chat and share content with others in their vicinity. Through its free tier and premium subscription services—known as Grindr XTRA and Grindr Unlimited—Grindr provides enhanced features such as ad-free browsing, advanced filters and unlimited profile views, catering to a broad spectrum of user needs.

Originally launched in 2009 by entrepreneur Joel Simkhai, Grindr was one of the first mobile apps to leverage geolocation technology for social networking.