Grindr (NYSE:GRND) Major Shareholder Sells $4,754,750.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 475,000 shares of Grindr stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $10.01, for a total value of $4,754,750.00. Following the transaction, the insider owned 18,432,101 shares in the company, valued at approximately $184,505,331.01. The trade was a 2.51% decrease in their position. The sale was disclosed in a 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 sales and purchases with the SEC.

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

• 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 Wednesday, February 4th, James Fu Bin Lu sold 375,000 shares of Grindr stock. The stock was sold at an average price of $10.13, for a total value of $3,798,750.00.
• 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 transaction 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 transaction of $1,987,676.78.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was 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 shares were sold at an average price of $11.74, for a total transaction of $2,348,000.00.
• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The shares were 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 stock was 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 shares were sold at an average price of $13.23, for a total transaction of $1,486,628.64.

Grindr Trading Up 3.0%

GRND traded up $0.30 during trading hours on Friday, reaching $10.22. The company’s stock had a trading volume of 2,837,701 shares, compared to its average volume of 1,562,003. The stock has a market cap of $1.89 billion, a PE ratio of -27.63 and a beta of 0.22. Grindr Inc. has a fifty-two week low of $9.73 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50-day moving average is $12.75 and its 200-day moving average is $14.31.

Grindr (NYSE:GRND) last posted its 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. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, equities research analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Grindr

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Grindr by 289.1% in the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after purchasing an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after buying an additional 762 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Grindr in the 2nd quarter valued at approximately $228,000. KLP Kapitalforvaltning AS boosted its position in Grindr by 46.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock valued at $166,000 after buying an additional 2,300 shares during the period. Finally, CWM LLC grew its stake 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 in the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GRND shares. Citizens Jmp lowered their target price on shares of 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 lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.