Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 375,000 Shares

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 375,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $10.13, for a total value of $3,798,750.00. Following the completion of the sale, the insider directly owned 19,507,101 shares in the company, valued at approximately $197,606,933.13. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large 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 Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The shares were sold at an average price of $10.01, for a total value of $4,754,750.00.
• On Thursday, February 5th, James Fu Bin Lu sold 600,000 shares of Grindr stock. The stock was sold at an average price of $10.07, for a total value of $6,042,000.00.
• On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The stock was 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 stock was sold at an average price of $11.14, for a total transaction of $1,987,676.78.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.27, for a total transaction of $2,254,000.00.
• 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 value 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 shares were 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 stock was sold at an average price of $13.23, for a total transaction of $1,486,628.64.

Grindr Stock Up 3.0%

Shares of GRND opened at $10.22 on Friday. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $25.13. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The company has a 50-day moving average price of $12.75 and a two-hundred day moving average price of $14.31. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -27.63 and a beta of 0.22.

Grindr (NYSE:GRND) last posted 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. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.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 company earned $0.09 EPS. Grindr’s revenue was up 29.6% on a year-over-year basis. Equities analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Grindr

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after acquiring an additional 1,385 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Grindr during the second quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Grindr during the third quarter valued at approximately $26,000. CWM LLC increased its holdings in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares in the last quarter. Finally, Huntington National Bank acquired a new stake in shares of Grindr in the second quarter valued at approximately $64,000. Institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GRND shares. Citizens Jmp reduced their target price 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. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus 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.