Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 112,368 Shares

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 112,368 shares of Grindr stock in a transaction on Monday, January 12th. The stock was sold at an average price of $13.23, for a total value of $1,486,628.64. Following the sale, the insider directly owned 4,455 shares of the company’s stock, valued at $58,939.65. This represents a 96.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 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 stock was 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 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 value 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 value 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 value of $4,320,830.40.

Grindr Trading Up 0.5%

GRND opened at $13.18 on Wednesday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -35.62 and a beta of 0.23. 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 twelve month low of $11.73 and a twelve month high of $25.13. The company has a 50-day simple moving average of $13.55 and a 200 day simple moving average of $15.48.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GRND. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Citizens Jmp lowered their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Finally, Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Grindr has an average rating of “Moderate Buy” and an average price target of $22.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRND. Y Intercept Hong Kong Ltd acquired a new position in Grindr in the 2nd quarter worth about $1,832,000. Bryce Point Capital LLC acquired a new stake in shares of Grindr during the second quarter valued at about $851,000. Tredje AP fonden bought a new stake in shares of Grindr during the second quarter worth about $956,000. NINE MASTS CAPITAL Ltd acquired a new position in shares of Grindr in the second quarter valued at approximately $7,171,000. Finally, Shaker Investments LLC OH bought a new position in Grindr in the 2nd quarter valued at approximately $992,000. 7.22% of the stock is currently owned by institutional investors and hedge funds.

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.