Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells $8,375,572.56 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 558,744 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $14.99, for a total transaction of $8,375,572.56. Following the completion of the sale, the insider owned 23,330,123 shares in the company, valued at approximately $349,718,543.77. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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 stock was sold at an average price of $14.80, for a total value of $4,320,830.40.
• 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 value of $3,282,500.00.
• On Wednesday, October 15th, James Fu Bin Lu sold 400,000 shares of Grindr stock. The stock was sold at an average price of $12.96, for a total value of $5,184,000.00.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The stock was sold at an average price of $12.95, for a total value 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 value 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 Performance

Shares of Grindr stock opened at $14.02 on Friday. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The firm’s 50-day moving average is $14.42 and its 200 day moving average is $18.47. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -37.88 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 issued 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. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Grindr

A number of hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Grindr in the second quarter worth $1,832,000. Bryce Point Capital LLC bought a new position in Grindr during the second quarter valued at $851,000. Tredje AP fonden purchased a new stake in shares of Grindr in the second quarter valued at $956,000. Shaker Investments LLC OH purchased a new stake in shares of Grindr in the second quarter valued at $992,000. Finally, Deutsche Bank AG lifted its holdings in shares of Grindr by 42.0% in the 1st quarter. Deutsche Bank AG now owns 402,822 shares of the company’s stock worth $7,211,000 after acquiring an additional 119,121 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GRND. Raymond James Financial decreased their target price on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Wednesday, October 8th. JMP Securities lowered their price objective on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citizens Jmp decreased 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 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Company Profile

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.