James Fu Bin Lu Sells 200,000 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $11.98, for a total value of $2,396,000.00. Following the sale, the insider directly owned 21,133,867 shares in the company, valued at $253,183,726.66. This trade represents a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $12.06, for a total value of $2,412,000.00.
• 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 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 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 value of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The stock was sold at an average price of $14.10, for a total value of $5,127,676.50.

Grindr Stock Down 0.1%

Shares of NYSE GRND opened at $11.97 on Friday. The business has a 50-day moving average price of $13.20 and a 200 day moving average price of $15.02. The stock has a market cap of $2.21 billion, a PE ratio of -32.34 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 52-week low of $11.67 and a 52-week high of $25.13.

Grindr (NYSE:GRND) last released its quarterly 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. The company had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citizens Jmp reduced their price objective 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. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Trading of Grindr

Several hedge funds and other institutional investors have recently made changes to their positions in GRND. CWM LLC raised its holdings in Grindr by 28.7% during the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after purchasing an additional 552 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Grindr by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after purchasing an additional 1,002 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Grindr by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after buying an additional 1,086 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares during the period. Hedge funds and other 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.