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

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 transaction of $48,978.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more 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 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 transaction 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 stock was 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 value 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 value 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 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 value of $5,184,000.00.

Grindr Stock Performance

Grindr stock traded down $0.01 during mid-day trading on Tuesday, reaching $13.40. The company’s stock had a trading volume of 1,124,491 shares, compared to its average volume of 1,946,987. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -36.22 and a beta of 0.23. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13. The business has a 50 day moving average price of $13.66 and a 200-day moving average price of $16.21. 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 posted its quarterly earnings results 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. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The company had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. Sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Grindr

Several hedge funds have recently added to or reduced their stakes in GRND. Caitong International Asset Management Co. Ltd bought a new position in shares of Grindr in the third quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after purchasing an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new position in Grindr in the 2nd quarter valued at about $39,000. CWM LLC grew its position in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after buying an additional 552 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in Grindr by 190.7% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock valued at $57,000 after buying an additional 2,488 shares during the period. Institutional investors own 7.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GRND shares. Citizens Jmp dropped their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Monday, November 10th. Wall Street Zen lowered Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a research note on Monday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grindr 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.