Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells $1,380,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 100,000 shares of Grindr stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $13.80, for a total transaction of $1,380,000.00. Following the completion of the sale, the insider owned 559,455 shares in the company, valued at approximately $7,720,479. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, December 29th, James Fu Bin Lu sold 3,628 shares of Grindr stock. The stock was 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, November 18th, James Fu Bin Lu sold 75,748 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total transaction of $1,033,960.20.
• On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The stock was sold at an average price of $14.01, for a total transaction of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The shares were sold at an average price of $14.10, for a total value of $5,127,676.50.
• On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The stock was sold at an average price of $14.45, for a total value of $2,970,616.55.
• On Wednesday, November 12th, James Fu Bin Lu sold 291,948 shares of Grindr stock. The stock was sold at an average price of $14.80, for a total value of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The stock was sold at an average price of $14.99, for a total transaction of $8,375,572.56.
• On Friday, October 17th, James Fu Bin Lu sold 250,000 shares of Grindr stock. The stock was sold at an average price of $13.13, for a total transaction of $3,282,500.00.
• On Wednesday, October 15th, James Fu Bin Lu sold 400,000 shares of Grindr stock. The stock was sold at an average price of $12.96, for a total transaction of $5,184,000.00.

Grindr Price Performance

GRND stock opened at $13.54 on Thursday. The firm has a 50 day moving average price of $13.68 and a 200-day moving average price of $16.12. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -36.59 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 (NYSE:GRND) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share 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 for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. Equities research analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Grindr

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of 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 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after purchasing an additional 552 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. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citizens Jmp lowered their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Monday. Finally, Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently 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.