Grindr (NYSE:GRND) Major Shareholder Sells $1,486,628.64 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 112,368 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $13.23, for a total value of $1,486,628.64. Following the transaction, the insider owned 4,455 shares of the company’s stock, valued at $58,939.65. This represents a 96.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

James Fu Bin Lu also recently made the following trade(s):

• 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 transaction of $4,004,853.58.
• On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The stock was 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 transaction of $48,978.00.
• On Friday, December 26th, James Fu Bin Lu sold 43,994 shares of Grindr stock. The shares were 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 value of $1,380,000.00.
• On Tuesday, November 18th, James Fu Bin Lu sold 75,748 shares of Grindr stock. The stock was sold at an average price of $13.65, for a total value of $1,033,960.20.
• On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The shares were sold at an average price of $14.01, for a total value 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 shares were sold at an average price of $14.80, for a total value of $4,320,830.40.

Grindr Stock Down 2.1%

NYSE GRND opened at $12.44 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The company has a fifty day moving average of $13.52 and a two-hundred day moving average of $15.44. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -33.61 and a beta of 0.23. Grindr Inc. has a 52 week low of $11.73 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GRND. Citizens Jmp dropped their target price on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a research report on Monday, December 29th. 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 currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Institutional Trading of Grindr

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Grindr in the 2nd quarter worth $39,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Grindr during the 3rd quarter worth $26,000. CWM LLC increased its stake in shares of Grindr by 28.7% during the second quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after buying an additional 552 shares during the period. Finally, Huntington National Bank bought a new stake in shares of Grindr in the second quarter valued at about $64,000. Institutional investors own 7.22% of the company’s stock.

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.