James Fu Bin Lu Sells 112,368 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 112,368 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $13.23, for a total transaction of $1,486,628.64. Following the sale, the insider owned 4,455 shares of the company’s stock, valued at $58,939.65. This trade represents a 96.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction 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 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 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 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 shares were 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 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 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.

Grindr Trading Up 0.5%

GRND stock traded up $0.06 during midday trading on Tuesday, reaching $13.18. The company’s stock had a trading volume of 809,671 shares, compared to its average volume of 1,145,046. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -35.62 and a beta of 0.23. The stock has a fifty day simple moving average of $13.55 and a two-hundred day simple moving average of $15.55. 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 announced its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $115.77 million during the quarter, compared to analyst estimates of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.Grindr’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. On average, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Grindr during the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position 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 worth $34,000 after purchasing an additional 1,385 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Grindr during the 2nd quarter valued at $39,000. CWM LLC lifted its holdings in shares of Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Grindr by 190.7% in the 3rd 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 in the last quarter. Institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

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