Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 43,994 Shares

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 43,994 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $13.51, for a total value of $594,358.94. Following the completion of the transaction, the insider owned 515,461 shares in the company, valued at $6,963,878.11. This trade represents a 7.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The shares were sold at an average price of $13.80, for a total value 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 value 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 shares were sold at an average price of $14.10, for a total transaction 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 transaction 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 transaction of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The shares were 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 stock was 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 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.

Grindr Stock Performance

Shares of NYSE GRND opened at $13.41 on Tuesday. The business’s 50-day simple moving average is $13.66 and its 200-day simple moving average is $16.21. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a 52 week low of $11.73 and a 52 week high of $25.13. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -36.25 and a beta of 0.23.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $113.53 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. As a group, equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GRND shares. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citizens Jmp decreased their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Institutional Investors Weigh In On Grindr

Several hedge funds have recently made changes to their positions in GRND. Caitong International Asset Management Co. Ltd bought a new position in Grindr during the third quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after purchasing an additional 1,385 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Grindr during the second quarter valued at approximately $39,000. CWM LLC raised 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 valued at $56,000 after purchasing an additional 552 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of Grindr by 190.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after purchasing an additional 2,488 shares in the last quarter. Institutional investors own 7.22% of the company’s stock.

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.