James Fu Bin Lu Sells 92,071 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 92,071 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $13.53, for a total value of $1,245,720.63. Following the completion of the transaction, the insider directly owned 419,762 shares in the company, valued at approximately $5,679,379.86. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 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 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 shares were 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 stock was 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 shares were 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 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 value 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 value of $3,282,500.00.

Grindr Trading Down 0.4%

Shares of GRND stock opened at $13.18 on Friday. The business’s fifty day moving average price is $13.58 and its 200 day moving average price is $15.76. The firm has a market capitalization of $2.43 billion, a PE ratio of -35.62 and a beta of 0.23. 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 Inc. has a 1-year low of $11.73 and a 1-year high of $25.13.

Grindr (NYSE:GRND) last issued its 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 negative net margin of 11.99% and a positive return on equity of 80.21%. The company had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue was up 29.6% on a year-over-year basis. As a group, sell-side analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on GRND shares. Citizens Jmp dropped their target price 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 restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Trading of Grindr

Large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. raised its position in shares of Grindr by 442.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock worth $14,149,000 after purchasing an additional 1,217,017 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Grindr by 327.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after buying an additional 1,058,084 shares in the last quarter. Norges Bank acquired a new position in shares of Grindr in the second quarter worth $16,618,000. Franklin Resources Inc. lifted its position in shares of Grindr by 1,060.9% in the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Grindr by 288.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after acquiring an additional 618,227 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

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.