Grindr (NYSE:GRND) Major Shareholder Sells $2,254,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of Grindr stock in a transaction on Friday, January 30th. The stock was sold at an average price of $11.27, for a total value of $2,254,000.00. Following the transaction, the insider directly owned 20,294,867 shares of the company’s stock, valued at approximately $228,723,151.09. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The shares were sold at an average price of $10.73, for a total value of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The shares were sold at an average price of $11.14, for a total value of $1,987,676.78.
• On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.74, for a total value of $2,348,000.00.
• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The stock was sold at an average price of $11.97, for a total transaction of $2,860,830.00.
• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.98, for a total transaction 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 transaction 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 transaction 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 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.

Grindr Price Performance

Grindr stock traded down $0.52 during mid-day trading on Tuesday, hitting $10.49. 3,371,474 shares of the company were exchanged, compared to its average volume of 1,266,328. Grindr Inc. has a 12-month low of $10.44 and a 12-month high of $25.13. The company has a market capitalization of $1.94 billion, a P/E ratio of -28.34 and a beta of 0.22. The business’s 50 day simple moving average is $12.91 and its two-hundred day simple moving average is $14.44. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million for 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%.The business’s revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. Analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GRND shares. Citizens Jmp cut their price objective on shares of 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 restated a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Grindr currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GRND. CWM LLC boosted its position in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Grindr by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after purchasing an additional 762 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after purchasing an additional 1,002 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Grindr by 8.0% in the 2nd 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, EverSource Wealth Advisors LLC grew its stake in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after buying an additional 1,385 shares during the period. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

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.