Grindr Inc. (NYSE:GRND) Short Interest Update

Grindr Inc. (NYSE:GRND) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 6,505,166 shares, a drop of 12.1% from the December 31st total of 7,403,821 shares. Based on an average trading volume of 1,173,335 shares, the days-to-cover ratio is currently 5.5 days. Approximately 10.9% of the shares of the stock are short sold. Approximately 10.9% of the shares of the stock are short sold. Based on an average trading volume of 1,173,335 shares, the days-to-cover ratio is currently 5.5 days.

Insider Buying and Selling

In other Grindr news, major shareholder James Fu Bin Lu sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total value of $2,348,000.00. Following the completion of the sale, the insider directly owned 20,494,867 shares in the company, valued at $240,609,738.58. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 605,000 shares of company stock worth $7,930,000 and sold 3,042,149 shares worth $41,299,346. 67.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Grindr in the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Grindr in the 2nd quarter valued at approximately $39,000. CWM LLC increased its stake in Grindr by 713.8% in the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after buying an additional 2,584 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its position in Grindr by 190.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after buying an additional 2,488 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citizens Jmp reduced their price objective 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. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Grindr presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Grindr Price Performance

GRND stock opened at $11.02 on Tuesday. Grindr has a one year low of $10.98 and a one year high of $25.13. The firm has a 50-day moving average of $12.95 and a two-hundred day moving average of $14.50. The firm has a market capitalization of $2.03 billion, a PE ratio of -29.77 and a beta of 0.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm’s revenue was up 29.6% compared to the same quarter last year. On average, 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.