Grindr Inc. (NYSE:GRND) Short Interest Down 6.4% in May

Grindr Inc. (NYSE:GRND) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 3,200,000 shares, a drop of 6.4% from the May 15th total of 3,420,000 shares. Approximately 16.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 414,600 shares, the short-interest ratio is presently 7.7 days.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. TD Cowen assumed coverage on Grindr in a research note on Thursday, March 28th. They set a “buy” rating and a $12.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 price objective on shares of Grindr in a research note on Monday, April 22nd. Finally, Raymond James assumed coverage on Grindr in a research note on Thursday, April 4th. They set an “outperform” rating and a $14.00 price objective on the stock.

Insider Buying and Selling

In other Grindr news, Director James Fu Bin Lu sold 11,270 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $10.00, for a total transaction of $112,700.00. Following the sale, the director now owns 11,562 shares in the company, valued at $115,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Grindr news, CEO George Arison sold 83,639 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $10.15, for a total transaction of $848,935.85. Following the sale, the chief executive officer now owns 3,029,027 shares in the company, valued at $30,744,624.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Fu Bin Lu sold 11,270 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $10.00, for a total value of $112,700.00. Following the sale, the director now owns 11,562 shares in the company, valued at approximately $115,620. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,778,172 shares of company stock worth $17,154,194. Corporate insiders own 78.20% of the company’s stock.

Institutional Trading of Grindr

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Grindr by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 570,351 shares of the company’s stock valued at $5,778,000 after acquiring an additional 30,574 shares in the last quarter. Alta Fox Capital Management LLC bought a new stake in Grindr during the 3rd quarter valued at approximately $1,162,000. Park West Asset Management LLC bought a new stake in Grindr during the 4th quarter valued at approximately $1,652,000. Jump Financial LLC bought a new stake in Grindr during the 4th quarter valued at approximately $617,000. Finally, GSA Capital Partners LLP bought a new stake in Grindr during the 1st quarter valued at approximately $545,000. 7.22% of the stock is owned by institutional investors.

Grindr Price Performance

NYSE GRND opened at $9.92 on Wednesday. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $1.74 billion, a PE ratio of -55.11 and a beta of 0.28. Grindr has a 1 year low of $4.49 and a 1 year high of $11.13. The business’s 50-day moving average is $9.79 and its 200 day moving average is $9.18.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $75.35 million for the quarter, compared to analysts’ expectations of $72.60 million. Grindr had a positive return on equity of 3,761.31% and a negative net margin of 11.56%. During the same period last year, the firm earned ($0.19) earnings per share.

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.