Grindr (NYSE:GRND) Major Shareholder Sells $2,860,830.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 239,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $11.97, for a total value of $2,860,830.00. Following the sale, the insider directly owned 20,694,867 shares in the company, valued at $247,717,557.99. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 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 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 transaction 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 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 transaction 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 stock was 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 shares were 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 shares were 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 stock was 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 shares were sold at an average price of $13.65, for a total transaction of $1,033,960.20.

Grindr Trading Down 0.4%

Shares of GRND opened at $11.57 on Friday. The company’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $14.74. The company has a market cap of $2.14 billion, a P/E ratio of -31.28 and a beta of 0.23. 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 $11.31 and a twelve month high of $25.13.

Grindr (NYSE:GRND) last released its quarterly 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. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new position in shares of Grindr during the 4th quarter worth $158,000. CWM LLC grew its holdings in Grindr by 713.8% during the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock worth $40,000 after acquiring an additional 2,584 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Grindr during the 4th quarter valued at about $148,000. Fortitude Family Office LLC increased its position in Grindr by 398.2% during the 4th quarter. Fortitude Family Office LLC now owns 4,509 shares of the company’s stock valued at $61,000 after purchasing an additional 3,604 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Grindr by 33.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company’s stock valued at $5,199,000 after purchasing an additional 87,076 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citizens Jmp reduced their price target 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 research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.