Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 3,628 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 3,628 shares of Grindr stock in a transaction on Monday, December 29th. The stock was sold at an average price of $13.50, for a total value of $48,978.00. Following the sale, the insider owned 511,833 shares of the company’s stock, valued at approximately $6,909,745.50. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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 Friday, December 26th, James Fu Bin Lu sold 43,994 shares of Grindr stock. The shares were sold at an average price of $13.51, for a total value of $594,358.94.
• On Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The shares were 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 stock was 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 shares were 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 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 stock was sold at an average price of $14.45, for a total value of $2,970,616.55.
• On Wednesday, November 12th, James Fu Bin Lu sold 291,948 shares of Grindr stock. The shares were sold at an average price of $14.80, for a total transaction of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The stock was 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 transaction of $5,184,000.00.

Grindr Trading Down 0.1%

Shares of GRND opened at $13.40 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $2.48 billion, a P/E ratio of -36.22 and a beta of 0.23. The firm has a 50-day moving average price of $13.67 and a 200 day moving average price of $16.14. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping 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 business had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the prior year, the business posted $0.09 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. Sell-side analysts forecast that Grindr Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Grindr

A number of hedge funds have recently made changes to their positions in GRND. Trexquant Investment LP lifted its stake in shares of Grindr by 574.6% in the first quarter. Trexquant Investment LP now owns 224,931 shares of the company’s stock worth $4,026,000 after acquiring an additional 191,589 shares in the last quarter. PDT Partners LLC boosted its position in Grindr by 78.3% during the 1st quarter. PDT Partners LLC now owns 165,269 shares of the company’s stock valued at $2,958,000 after purchasing an additional 72,554 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Grindr during the first quarter valued at $14,320,000. AQR Capital Management LLC grew its position in Grindr by 289.1% in the 1st quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock worth $1,578,000 after purchasing an additional 65,485 shares during the last quarter. Finally, Bwcp LP grew its holdings in Grindr by 61.8% in the 1st quarter. Bwcp LP now owns 1,096,586 shares of the company’s stock worth $19,629,000 after buying an additional 418,994 shares in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Monday. Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citizens Jmp lowered their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note 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’s stock. According to data from MarketBeat, Grindr has a consensus rating of “Moderate Buy” and a consensus 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.