Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 75,748 Shares

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 75,748 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $13.65, for a total transaction of $1,033,960.20. Following the completion of the transaction, the insider owned 22,388,867 shares in the company, valued at $305,608,034.55. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

James Fu Bin Lu also recently made the following trade(s):

• On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The shares were sold at an average price of $14.01, for a total transaction of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The stock was sold at an average price of $14.10, for a total value of $5,127,676.50.
• On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The stock was sold at an average price of $14.45, for a total value of $2,970,616.55.
• On Wednesday, November 12th, James Fu Bin Lu sold 291,948 shares of Grindr stock. The shares were sold at an average price of $14.80, for a total value of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The stock was sold at an average price of $14.99, for a total transaction of $8,375,572.56.
• On Friday, October 17th, James Fu Bin Lu sold 250,000 shares of Grindr stock. The shares were sold at an average price of $13.13, for a total transaction of $3,282,500.00.
• On Wednesday, October 15th, James Fu Bin Lu sold 400,000 shares of Grindr stock. The shares were sold at an average price of $12.96, for a total transaction of $5,184,000.00.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The shares were sold at an average price of $12.95, for a total transaction of $4,532,500.00.
• On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The shares were sold at an average price of $11.94, for a total transaction of $3,582,000.00.
• On Thursday, October 9th, James Fu Bin Lu sold 1,000,000 shares of Grindr stock. The stock was sold at an average price of $13.15, for a total value of $13,150,000.00.

Grindr Stock Up 0.7%

NYSE GRND traded up $0.10 during midday trading on Tuesday, hitting $13.97. 2,262,536 shares of the company traded hands, compared to its average volume of 2,625,785. Grindr Inc. has a 52 week low of $11.73 and a 52 week high of $25.13. The company’s 50-day simple moving average is $14.35 and its 200-day simple moving average is $18.32. The company has a market cap of $2.58 billion, a PE ratio of -37.74 and a beta of 0.22. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm had revenue of $115.77 million during the quarter, compared to analyst estimates of $113.53 million. During the same period in the previous year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

GRND has been the topic of a number of recent analyst reports. Citizens Jmp lowered their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. JMP Securities decreased their target price on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Raymond James Financial reduced their price target on Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Institutional Trading of Grindr

Several large investors have recently added to or reduced their stakes in GRND. XTX Topco Ltd increased its holdings in Grindr by 2.8% in the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock worth $305,000 after buying an additional 459 shares during the period. CWM LLC increased its stake in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grindr by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after purchasing an additional 1,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Grindr by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after purchasing an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.