Grindr (NYSE:GRND) Major Shareholder Sells $2,348,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total transaction of $2,348,000.00. Following the completion of the sale, the insider directly owned 20,494,867 shares of the company’s stock, valued at $240,609,738.58. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 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 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 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 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 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 shares were sold at an average price of $13.65, for a total transaction of $1,033,960.20.

Grindr Price Performance

NYSE:GRND traded down $0.23 during trading hours on Tuesday, hitting $11.74. 1,778,642 shares of the company’s stock traded hands, compared to its average volume of 1,113,964. The business’s fifty day simple moving average is $13.16 and its two-hundred day simple moving average is $14.85. Grindr Inc. has a 52 week low of $11.52 and a 52 week high of $25.13. The firm has a market cap of $2.17 billion, a P/E ratio of 28.50 and a beta of 0.23. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.

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

Institutional Investors Weigh In On Grindr

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citizens Jmp dropped their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Grindr has a consensus rating of “Moderate Buy” and a consensus 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.