Grindr Inc. (NYSE:GRND) Short Interest Down 18.2% in December

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director James Fu Bin Lu sold 1,000,000 shares of Grindr stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the completion of the sale, the director owned 25,588,867 shares of the company’s stock, valued at $336,493,601.05. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Raymond Zage III acquired 1,000,000 shares of the business’s stock in a transaction dated Thursday, October 9th. The stock was acquired at an average price of $13.15 per share, for a total transaction of $13,150,000.00. Following the purchase, the director directly owned 7,733,283 shares of the company’s stock, valued at approximately $101,692,671.45. This trade represents a 14.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 1,605,000 shares of company stock valued at $21,080,000 and sold 4,018,517 shares valued at $54,581,611. Company insiders own 67.70% of the company’s stock.

Hedge Funds Weigh In On Grindr

Several large investors have recently made changes to their positions in GRND. CWM LLC increased its holdings in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grindr by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after buying an additional 762 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after buying an additional 1,002 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Grindr by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 shares during the period. Finally, Rhumbline Advisers lifted its stake in Grindr by 3.0% during the 1st quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock worth $770,000 after acquiring an additional 1,272 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Trading Up 1.0%

Shares of Grindr stock traded up $0.13 during mid-day trading on Thursday, hitting $13.54. The stock had a trading volume of 1,182,189 shares, compared to its average volume of 1,169,689. The firm has a 50-day moving average of $13.68 and a two-hundred day moving average of $16.12. The firm has a market cap of $2.50 billion, a P/E ratio of -36.59 and a beta of 0.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr has a 12-month low of $11.73 and a 12-month high of $25.13.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. Sell-side analysts forecast that Grindr will post 0.29 earnings per share for the current year.

Grindr Company Profile

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.