Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 239,000 Shares

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 239,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $11.97, for a total value of $2,860,830.00. Following the transaction, the insider directly owned 20,694,867 shares of the company’s stock, valued at $247,717,557.99. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.74, for a total value of $2,348,000.00.
• 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 value 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 transaction 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 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 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.

Grindr Stock Performance

Shares of Grindr stock opened at $11.74 on Wednesday. The business’s 50 day moving average price is $13.11 and its 200 day moving average price is $14.78. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -31.73 and a beta of 0.23. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. Grindr Inc. has a one year low of $11.52 and a one year high of $25.13.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. On average, research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRND. Citizens Jmp reduced their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Grindr during the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Grindr in the second quarter valued at approximately $39,000. CWM LLC grew its holdings in shares of Grindr by 713.8% in the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after purchasing an additional 2,584 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in Grindr by 190.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after buying an additional 2,488 shares during the period. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

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.