Grindr (NYSE:GRND) Major Shareholder Sells $48,978.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 3,628 shares of the company’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $13.50, for a total value of $48,978.00. Following the transaction, the insider directly owned 511,833 shares in the company, valued at approximately $6,909,745.50. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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 Friday, December 26th, James Fu Bin Lu sold 43,994 shares of Grindr stock. The shares were sold at an average price of $13.51, for a total value of $594,358.94.
• 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 stock was sold at an average price of $14.01, for a total value 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 stock was 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 transaction of $5,184,000.00.

Grindr Stock Up 1.0%

NYSE:GRND opened at $13.54 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. The stock’s fifty day simple moving average is $13.70 and its 200-day simple moving average is $16.10. The firm has a market capitalization of $2.50 billion, a P/E ratio of -36.59 and a beta of 0.23.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating 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 business had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis. Equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GRND. Citizens Jmp decreased their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research report on Monday. Finally, Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Grindr by 33.6% during the third quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company’s stock worth $5,199,000 after acquiring an additional 87,076 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Grindr in the 3rd quarter worth $26,000. Jacobs Levy Equity Management Inc. increased its holdings in Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after purchasing an additional 1,058,084 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Grindr by 144.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock valued at $15,675,000 after purchasing an additional 615,900 shares during the period. Finally, Prelude Capital Management LLC bought a new stake in shares of Grindr in the third quarter valued at about $249,000. Institutional investors own 7.22% of the company’s stock.

Grindr Company Profile

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.