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 business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $12.06, for a total value of $2,412,000.00. Following the completion of the sale, the insider owned 21,533,867 shares of the company’s stock, valued at $259,698,436.02. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.98, for a total transaction of $2,396,000.00.
• 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 value of $4,004,853.58.
• 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 value 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 stock was 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 stock was 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 shares were 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.

Grindr Stock Down 0.1%

Shares of Grindr stock opened at $11.97 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. The company has a market cap of $2.21 billion, a P/E ratio of -32.34 and a beta of 0.23. The firm’s 50 day moving average price is $13.20 and its 200-day moving average price is $15.02. Grindr Inc. has a 52-week low of $11.67 and a 52-week high of $25.13.

Grindr (NYSE:GRND) last announced 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. The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. Grindr’s revenue was up 29.6% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. On average, sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GRND. 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. Weiss Ratings reaffirmed 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 report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.