Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells 4,316 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 4,316 shares of Grindr stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $14.01, for a total transaction of $60,467.16. Following the completion of the transaction, the insider directly owned 22,464,615 shares of the company’s stock, valued at approximately $314,729,256.15. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major 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, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The shares were 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 value of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The shares were 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 stock was 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.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The shares were sold at an average price of $12.95, for a total value of $4,532,500.00.
• On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The stock was sold at an average price of $11.94, for a total transaction of $3,582,000.00.
• On Thursday, October 9th, James Fu Bin Lu sold 1,000,000 shares of Grindr stock. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00.

Grindr Stock Performance

Shares of NYSE GRND traded down $0.14 during mid-day trading on Monday, reaching $13.88. 1,272,350 shares of the company were exchanged, compared to its average volume of 2,683,923. The stock has a market capitalization of $2.56 billion, a P/E ratio of -37.50 and a beta of 0.22. 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’s 50-day simple moving average is $14.39 and its 200-day simple moving average is $18.38. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13.

Grindr (NYSE:GRND) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. Grindr’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Grindr has set its FY 2025 guidance at EPS. As a group, research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GRND shares. Citizens Jmp reduced their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. JMP Securities lowered their price target on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, August 11th. Raymond James Financial cut their price objective on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GRND. CWM LLC grew its stake in Grindr by 838.5% during the first quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after buying an additional 1,719 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 worth $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Grindr during the 2nd quarter worth approximately $39,000. Aster Capital Management DIFC Ltd boosted its position in shares of Grindr by 190.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after acquiring an additional 2,488 shares in the last quarter. Finally, Huntington National Bank bought a new position in Grindr in the second quarter valued at approximately $64,000. Institutional investors and hedge funds own 7.22% of the company’s stock.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.