Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells $3,798,750.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 375,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $10.13, for a total transaction of $3,798,750.00. Following the sale, the insider directly owned 19,507,101 shares of the company’s stock, valued at $197,606,933.13. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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 Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The stock was sold at an average price of $10.01, for a total transaction of $4,754,750.00.
• On Thursday, February 5th, James Fu Bin Lu sold 600,000 shares of Grindr stock. The stock was sold at an average price of $10.07, for a total transaction of $6,042,000.00.
• On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The shares were sold at an average price of $10.73, for a total transaction of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The stock was sold at an average price of $11.14, for a total transaction of $1,987,676.78.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.27, for a total value of $2,254,000.00.
• On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.74, for a total value of $2,348,000.00.
• 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 value of $2,860,830.00.
• 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 stock was 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.

Grindr Trading Up 3.0%

Shares of GRND stock opened at $10.22 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a twelve month low of $9.73 and a twelve month high of $25.13. The company’s 50-day moving average price is $12.75 and its 200-day moving average price is $14.24. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -27.63 and a beta of 0.22.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million for 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 quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on GRND shares. Citizens Jmp decreased their price objective on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a 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 investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its position in shares of Grindr by 442.6% during the third 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. lifted its stake in Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after acquiring an additional 1,058,084 shares in the last quarter. Norges Bank acquired a new position in Grindr during the 2nd quarter worth about $16,618,000. Franklin Resources Inc. boosted its holdings in Grindr by 1,060.9% during the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Grindr by 288.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after acquiring an additional 618,227 shares in the last quarter. 7.22% of the stock is currently 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.