James Fu Bin Lu Sells 251,898 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 251,898 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $23.86, for a total transaction of $6,010,286.28. Following the transaction, the director now directly owns 27,441,434 shares of the company’s stock, valued at approximately $654,752,615.24. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, May 28th, James Fu Bin Lu sold 852,567 shares of Grindr stock. The stock was sold at an average price of $23.93, for a total transaction of $20,401,928.31.
• On Friday, May 23rd, James Fu Bin Lu sold 229,627 shares of Grindr stock. The stock was sold at an average price of $23.99, for a total transaction of $5,508,751.73.
• On Thursday, May 22nd, James Fu Bin Lu sold 168,009 shares of Grindr stock. The shares were sold at an average price of $23.98, for a total transaction of $4,028,855.82.
• On Wednesday, May 14th, James Fu Bin Lu sold 200,811 shares of Grindr stock. The shares were sold at an average price of $24.05, for a total transaction of $4,829,504.55.
• On Monday, May 12th, James Fu Bin Lu sold 480,770 shares of Grindr stock. The shares were sold at an average price of $23.78, for a total transaction of $11,432,710.60.

Grindr Stock Down 0.5%

Shares of NYSE:GRND opened at $24.40 on Friday. The company has a market cap of $4.78 billion, a PE ratio of -69.71 and a beta of 0.28. The company’s 50-day moving average price is $21.03 and its 200 day moving average price is $18.35. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $25.08.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. As a group, equities analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GRND. Wall Street Zen raised shares of Grindr from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 price target on shares of Grindr in a report on Monday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Grindr in a report on Thursday, March 6th. Raymond James reaffirmed an “outperform” rating and issued a $26.00 price target (up from $22.00) on shares of Grindr in a report on Friday, May 9th. Finally, The Goldman Sachs Group lifted their price target on shares of Grindr from $20.00 to $26.00 and gave the company a “buy” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.25.

Institutional Trading of Grindr

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd raised its position in shares of Grindr by 2.8% during the 1st quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock worth $305,000 after buying an additional 459 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Grindr by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 52,887 shares of the company’s stock worth $944,000 after purchasing an additional 623 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company’s stock worth $47,000 after purchasing an additional 642 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock worth $38,000 after purchasing an additional 662 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.