Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells 600,000 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 600,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.07, for a total transaction of $6,042,000.00. Following the completion of the transaction, the insider directly owned 18,907,101 shares of the company’s stock, valued at approximately $190,394,507.07. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large 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 Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The stock was sold at an average price of $10.01, for a total transaction of $4,754,750.00.
• 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 value 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 value of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The shares were sold at an average price of $11.14, for a total value 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 value of $2,254,000.00.
• On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was 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 shares were 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 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.

Grindr Price Performance

Shares of NYSE GRND traded up $0.30 during mid-day trading on Friday, reaching $10.22. 2,837,701 shares of the company were exchanged, compared to its average volume of 1,562,003. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $25.13. The company’s 50 day moving average price is $12.75 and its 200 day moving average price is $14.31. The stock has a market capitalization of $1.89 billion, a PE ratio of -27.63 and a beta of 0.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. Sell-side analysts forecast that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GRND has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. Citizens Jmp lowered their price objective 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 cut 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Institutional Investors Weigh In On Grindr

A number of large investors have recently added to or reduced their stakes in GRND. Balyasny Asset Management L.P. raised its position in shares of Grindr by 442.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock worth $14,149,000 after acquiring an additional 1,217,017 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Grindr by 327.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after purchasing an additional 1,058,084 shares in the last quarter. Norges Bank purchased a new position in Grindr during the second quarter valued at $16,618,000. Franklin Resources Inc. lifted its position in Grindr by 1,060.9% during the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after buying an additional 709,857 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Grindr by 288.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after buying an additional 618,227 shares in the last quarter. 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.