Grindr (NYSE:GRND) Major Shareholder Sells $1,245,720.63 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 92,071 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $13.53, for a total value of $1,245,720.63. Following the transaction, the insider owned 419,762 shares in the company, valued at approximately $5,679,379.86. This represents a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% 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 Monday, December 29th, James Fu Bin Lu sold 3,628 shares of Grindr stock. The stock was sold at an average price of $13.50, for a total transaction 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 value 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 transaction 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 transaction 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 value 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 transaction 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 shares were sold at an average price of $13.13, for a total transaction of $3,282,500.00.

Grindr Price Performance

Shares of Grindr stock traded up $0.07 during trading on Wednesday, hitting $13.23. The stock had a trading volume of 815,408 shares, compared to its average volume of 1,175,027. The business has a fifty day moving average of $13.62 and a two-hundred day moving average of $15.80. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13. The firm has a market cap of $2.44 billion, a P/E ratio of -35.74 and a beta of 0.23. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82.

Grindr (NYSE:GRND) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the business earned $0.09 earnings per share. Grindr’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 9,952 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Grindr by 327.5% during 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 acquiring an additional 1,058,084 shares during the period. Bank of America Corp DE grew its stake in Grindr by 93.5% during the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after buying an additional 608,554 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in Grindr by 144.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock valued at $15,675,000 after purchasing an additional 615,900 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Grindr by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 978,287 shares of the company’s stock worth $22,207,000 after buying an additional 78,375 shares in the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GRND shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Citizens Jmp decreased their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.