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 the stock in a transaction on Tuesday, December 23rd. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more 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 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 value 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 value of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The stock was 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 shares were sold at an average price of $14.45, for a total transaction of $2,970,616.55.
• On Wednesday, November 12th, James Fu Bin Lu sold 291,948 shares of Grindr stock. The shares were 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 value of $8,375,572.56.
• On Friday, October 17th, James Fu Bin Lu sold 250,000 shares of Grindr stock. The shares were sold at an average price of $13.13, for a total value 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 value of $5,184,000.00.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The stock was sold at an average price of $12.95, for a total transaction of $4,532,500.00.

Grindr Stock Down 0.6%

Shares of NYSE GRND traded down $0.08 during midday trading on Monday, reaching $13.41. The company’s stock had a trading volume of 915,038 shares, compared to its average volume of 1,950,166. The stock has a 50 day simple moving average of $13.65 and a 200-day simple moving average of $16.27. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -36.25 and a beta of 0.23. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

GRND has been the topic of several analyst reports. Citizens Jmp dropped their target price 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 lowered Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 22nd. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Hedge Funds Weigh In On Grindr

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after buying an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after acquiring an additional 762 shares during the period. Ameritas Investment Partners Inc. lifted its position in Grindr by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after acquiring an additional 1,002 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Grindr by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Grindr by 3.0% in the first quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock valued at $770,000 after purchasing an additional 1,272 shares during 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.