Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 558,744 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 558,744 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $14.99, for a total value of $8,375,572.56. Following the sale, the insider directly owned 23,330,123 shares in the company, valued at $349,718,543.77. The trade was a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more 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, 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 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 shares were sold at an average price of $12.96, for a total value of $5,184,000.00.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The stock was sold at an average price of $12.95, for a total value of $4,532,500.00.
• On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The stock was sold at an average price of $11.94, for a total transaction of $3,582,000.00.
• On Thursday, October 9th, James Fu Bin Lu sold 1,000,000 shares of Grindr stock. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00.

Grindr Trading Down 2.7%

Shares of GRND opened at $14.38 on Friday. The company’s fifty day simple moving average is $14.45 and its 200-day simple moving average is $18.54. The company has a market cap of $2.76 billion, a P/E ratio of -38.86 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 Inc. has a twelve month low of $11.73 and a twelve month high of $25.13.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 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 firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS. As a group, analysts expect that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently bought and sold shares of GRND. EverSource Wealth Advisors LLC grew its position in shares of Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Grindr in the second quarter worth about $39,000. CWM LLC lifted its stake in Grindr by 838.5% in the first quarter. CWM LLC now owns 1,924 shares of the company’s stock worth $34,000 after acquiring an additional 1,719 shares during the period. Huntington National Bank bought a new position in Grindr during the 2nd quarter worth about $64,000. Finally, Ameritas Investment Partners Inc. increased its position in Grindr by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after purchasing an additional 1,002 shares during the period. 7.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GRND has been the topic of a number of analyst reports. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Raymond James Financial dropped their price objective on Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Wednesday, October 8th. Citizens Jmp reduced their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday. Finally, JMP Securities lowered their target price on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research note on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Grindr has an average rating of “Moderate Buy” and an average target price of $22.50.

Grindr Company Profile

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.