Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 475,000 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 475,000 shares of Grindr stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $10.01, for a total value of $4,754,750.00. Following the sale, the insider directly owned 18,432,101 shares in the company, valued at $184,505,331.01. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 shares were 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 shares were sold at an average price of $10.13, for a total transaction of $3,798,750.00.
• On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The stock was 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 stock was 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 shares were 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 stock was 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 value of $2,412,000.00.
• 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.

Grindr Stock Up 3.0%

Shares of GRND opened at $10.22 on Friday. The stock’s 50-day moving average price is $12.75 and its two-hundred day moving average price is $14.31. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $25.13. The company has a market capitalization of $1.89 billion, a PE ratio of -27.63 and a beta of 0.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million during 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 firm’s revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, analysts anticipate that Grindr Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on GRND. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp reduced their price objective on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Hedge Funds Weigh In On Grindr

A number of institutional investors and hedge funds have recently modified their holdings of GRND. CWM LLC grew its position in shares of Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after buying an additional 552 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after acquiring an additional 762 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after purchasing an additional 1,002 shares during the period. The Manufacturers Life Insurance Company increased its stake in Grindr by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after purchasing an additional 1,086 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Grindr by 1,473.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after purchasing an additional 1,385 shares during the period. 7.22% of the stock is currently owned by 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.