Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 200,000 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 200,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $12.06, for a total transaction of $2,412,000.00. Following the completion of the sale, the insider owned 21,533,867 shares of the company’s stock, valued at $259,698,436.02. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 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 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 value of $1,486,628.64.
• 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 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 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 shares were 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 stock was sold at an average price of $14.01, for a total value 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 transaction of $5,127,676.50.

Grindr Price Performance

GRND opened at $11.98 on Friday. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The firm has a 50-day moving average of $13.24 and a 200 day moving average of $15.09. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $2.21 billion, a P/E ratio of -32.38 and a beta of 0.23.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. On average, research analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Grindr

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Grindr by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after acquiring an additional 9,952 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Grindr by 327.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after purchasing an additional 1,058,084 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Grindr by 93.5% in the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after purchasing an additional 608,554 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Grindr by 144.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock worth $15,675,000 after buying an additional 615,900 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Grindr by 8.7% during the second quarter. Federated Hermes Inc. now owns 978,287 shares of the company’s stock valued at $22,207,000 after buying an additional 78,375 shares during the period. 7.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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