Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells $2,348,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total value of $2,348,000.00. Following the transaction, the insider directly owned 20,494,867 shares of the company’s stock, valued at approximately $240,609,738.58. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The shares were sold at an average price of $11.97, for a total value of $2,860,830.00.
• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.98, for a total value of $2,396,000.00.
• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $12.06, for a total value of $2,412,000.00.
• On Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The shares were 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 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 transaction 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 transaction 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 transaction of $594,358.94.
• On Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The shares were 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 Price Performance

Shares of NYSE:GRND opened at $11.57 on Friday. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -31.28 and a beta of 0.23. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day simple moving average is $13.03 and its 200-day simple moving average is $14.74. Grindr Inc. has a 12 month low of $11.31 and a 12 month high of $25.13.

Grindr (NYSE:GRND) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $115.77 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.09 EPS. As a group, equities analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citizens Jmp dropped their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Finally, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Grindr currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Grindr during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew 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 buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grindr during the second quarter worth approximately $39,000. CWM LLC increased its stake in shares of Grindr by 713.8% in the fourth quarter. CWM LLC now owns 2,946 shares of the company’s stock worth $40,000 after buying an additional 2,584 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised 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 valued at $57,000 after acquiring an additional 2,488 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.