Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 302,939 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 302,939 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $13.22, for a total transaction of $4,004,853.58. Following the completion of the sale, the insider directly owned 116,823 shares in the company, valued at $1,544,400.06. This represents a 72.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The shares were sold at an average price of $13.23, for a total transaction of $1,486,628.64.
• On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The shares were 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 stock was sold at an average price of $13.50, for a total value 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 value 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 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 shares were 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.

Grindr Price Performance

Grindr stock opened at $13.18 on Wednesday. The firm has a fifty day moving average of $13.55 and a 200-day moving average of $15.48. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $2.43 billion, a P/E ratio of -35.62 and a beta of 0.23.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the previous year, the business posted $0.09 EPS. The business’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Grindr

A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Grindr during the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after acquiring an additional 1,385 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Grindr during the 2nd quarter worth $39,000. CWM LLC grew its holdings in Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Grindr by 190.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after purchasing an additional 2,488 shares during the last quarter. 7.22% of the stock is 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.