Grindr (NYSE:GRND) Hits New 1-Year Low on Insider Selling

Grindr Inc. (NYSE:GRND)’s stock price hit a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $10.44 and last traded at $10.4850, with a volume of 3371474 shares. The stock had previously closed at $11.00.

Specifically, major shareholder James Fu Bin Lu sold 234,339 shares of Grindr stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $10.73, for a total value of $2,514,457.47. Following the transaction, the insider directly owned 19,882,101 shares of the company’s stock, valued at $213,334,943.73. The trade was a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James Fu Bin Lu sold 178,427 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $11.14, for a total transaction of $1,987,676.78. Following the sale, the insider owned 20,116,440 shares of the company’s stock, valued at approximately $224,097,141.60. This represents a 0.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Grindr news, major shareholder James Fu Bin Lu sold 200,000 shares of Grindr stock in a transaction on Friday, January 30th. The shares were 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 in the company, valued at approximately $228,723,151.09. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

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

Grindr Price Performance

The company has a market cap of $1.83 billion, a price-to-earnings ratio of -26.82 and a beta of 0.22. The company has a 50-day simple moving average of $12.80 and a 200-day simple moving average of $14.38. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82.

Grindr (NYSE:GRND) last posted its quarterly 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. The firm 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 company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Grindr

Several institutional investors have recently made changes to their positions in GRND. Balyasny Asset Management L.P. increased its holdings in shares of Grindr by 442.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock valued at $14,149,000 after purchasing an additional 1,217,017 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock valued at $20,746,000 after buying an additional 1,058,084 shares in the last quarter. Norges Bank purchased a new position in Grindr in the second quarter valued at about $16,618,000. Franklin Resources Inc. lifted its position in shares of Grindr by 1,060.9% during the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Grindr by 288.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock worth $18,898,000 after acquiring an additional 618,227 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

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.