Grindr (NYSE:GRND) Major Shareholder Sells $1,987,676.78 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 178,427 shares of Grindr stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $11.14, for a total value of $1,987,676.78. Following the completion of the transaction, the insider directly owned 20,116,440 shares of the company’s stock, valued at approximately $224,097,141.60. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 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 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 value of $2,514,457.47.
• 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 value 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 value of $2,396,000.00.
• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was 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.
• On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The shares were sold at an average price of $13.22, for a total value of $4,004,853.58.
• On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The shares were sold at an average price of $13.53, for a total transaction of $1,245,720.63.
• 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 value of $48,978.00.

Grindr Trading Down 4.7%

Shares of GRND stock traded down $0.52 during trading hours on Tuesday, reaching $10.49. 3,371,474 shares of the stock were exchanged, compared to its average volume of 1,266,328. Grindr Inc. has a 12-month low of $10.44 and a 12-month high of $25.13. The company’s 50-day moving average price is $12.91 and its 200-day moving average price is $14.44. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -28.34 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 posted 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. The company had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. As a group, equities analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GRND shares. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Finally, Citizens Jmp lowered their price objective 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 analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Hedge Funds Weigh In On Grindr

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in 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 acquiring an additional 65,485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 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 second quarter worth $228,000. Ascent Group LLC increased its holdings in shares of Grindr by 42.1% in the 2nd quarter. Ascent Group LLC now owns 20,791 shares of the company’s stock valued at $472,000 after purchasing an additional 6,158 shares in the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in Grindr by 46.0% in the second 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 in the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.