Grindr (NYSE:GRND) Major Shareholder Sells $2,412,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $12.06, for a total value of $2,412,000.00. Following the transaction, the insider owned 21,533,867 shares in the company, valued at $259,698,436.02. This represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.98, for a total value of $2,396,000.00.
• On Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The shares were sold at an average price of $13.23, for a total value of $1,486,628.64.
• On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The stock was sold at an average price of $13.22, for a total transaction of $4,004,853.58.
• On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The shares were sold at an average price of $13.53, for a total transaction of $1,245,720.63.
• On Monday, December 29th, James Fu Bin Lu sold 3,628 shares of Grindr stock. The shares were sold at an average price of $13.50, for a total transaction of $48,978.00.
• On Friday, December 26th, James Fu Bin Lu sold 43,994 shares of Grindr stock. The stock was sold at an average price of $13.51, for a total transaction of $594,358.94.
• On Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The stock was sold at an average price of $13.80, for a total transaction of $1,380,000.00.
• On Tuesday, November 18th, James Fu Bin Lu sold 75,748 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total transaction of $1,033,960.20.
• 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 transaction of $5,127,676.50.

Grindr Stock Performance

Shares of NYSE GRND traded up $0.04 during midday trading on Thursday, reaching $11.98. 1,066,606 shares of the company were exchanged, compared to its average volume of 1,031,873. The stock has a market cap of $2.21 billion, a P/E ratio of -32.38 and a beta of 0.23. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The stock has a fifty day simple moving average of $13.24 and a 200 day simple moving average of $15.09. 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 posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating 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 the consensus estimate of $113.53 million. During the same period in the prior year, the business earned $0.09 EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. On average, research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on GRND. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, 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 note on Monday, November 10th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Trading of Grindr

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. acquired a new stake in Grindr in the second quarter valued at $39,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Grindr during the 3rd quarter worth $26,000. CWM LLC boosted its position in shares of Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after purchasing an additional 552 shares in the last quarter. Finally, Huntington National Bank acquired a new position in shares of Grindr during the 2nd quarter worth $64,000. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

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.