James Fu Bin Lu Sells 43,994 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 43,994 shares of the company’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $13.51, for a total value of $594,358.94. Following the completion of the sale, the insider owned 515,461 shares of the company’s stock, valued at approximately $6,963,878.11. The trade was a 7.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 shares were sold at an average price of $13.50, for a total value of $48,978.00.
• 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.
• 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 stock was sold at an average price of $14.10, for a total transaction 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 stock was sold at an average price of $14.80, for a total transaction 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.

Grindr Stock Performance

NYSE:GRND opened at $13.40 on Wednesday. The stock has a 50-day moving average price of $13.67 and a 200 day moving average price of $16.14. The stock has a market capitalization of $2.48 billion, a P/E ratio of -36.22 and a beta of 0.23. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. 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 (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Equities research analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Grindr

Institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. increased its position in shares of Grindr by 442.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock valued at $14,149,000 after purchasing an additional 1,217,017 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Grindr by 327.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after buying an additional 1,058,084 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Grindr during the first quarter valued at $14,320,000. Norges Bank purchased a new stake in shares of Grindr in the second quarter valued at $16,618,000. Finally, Franklin Resources Inc. raised its stake in shares of Grindr by 1,060.9% in the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares during the period. 7.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GRND shares. Citizens Jmp decreased their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research note on Monday. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.