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

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $11.74, for a total transaction of $2,348,000.00. Following the transaction, the insider owned 20,494,867 shares in the company, valued at $240,609,738.58. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The stock was sold at an average price of $11.97, for a total transaction of $2,860,830.00.
• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.98, for a total transaction of $2,396,000.00.
• 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 stock was sold at an average price of $13.23, for a total value of $1,486,628.64.
• On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The shares were 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 stock was 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 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 transaction 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.

Grindr Stock Performance

NYSE:GRND opened at $11.74 on Wednesday. The firm has a market capitalization of $2.17 billion, a PE ratio of -31.73 and a beta of 0.23. Grindr Inc. has a 1 year low of $11.52 and a 1 year high of $25.13. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The firm’s fifty day simple moving average is $13.11 and its 200 day simple moving average is $14.78.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $0.09 earnings per share. On average, sell-side analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GRND. AQR Capital Management LLC boosted its stake in Grindr by 289.1% during the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock worth $1,578,000 after buying an additional 65,485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after acquiring an additional 762 shares during the period. USA Financial Formulas acquired a new stake in shares of Grindr during the 2nd quarter valued at about $83,000. Robeco Institutional Asset Management B.V. bought a new stake in Grindr in the second quarter valued at about $228,000. Finally, Ascent Group LLC increased its stake in Grindr by 42.1% in the second quarter. Ascent Group LLC now owns 20,791 shares of the company’s stock valued at $472,000 after acquiring an additional 6,158 shares during the period. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GRND shares. Citizens Jmp cut 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. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Grindr currently has an average rating of “Moderate Buy” and a consensus target price 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.