Grindr (NYSE:GRND) Major Shareholder Sells $4,004,853.58 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 302,939 shares of Grindr stock in a transaction on Friday, January 9th. The shares were sold at an average price of $13.22, for a total value of $4,004,853.58. Following the completion of the transaction, the insider owned 116,823 shares of the company’s stock, valued at approximately $1,544,400.06. This trade represents a 72.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large 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 Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The stock was sold at an average price of $13.23, for a total value of $1,486,628.64.
• 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 value 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 shares were 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 stock was 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 transaction of $5,127,676.50.
• On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The stock was sold at an average price of $14.45, for a total transaction 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.

Grindr Price Performance

NYSE:GRND opened at $12.44 on Friday. Grindr Inc. has a 52-week low of $11.73 and a 52-week high of $25.13. The stock has a fifty day moving average of $13.52 and a 200 day moving average of $15.44. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. 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 (NYSE:GRND) last released its quarterly 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 positive return on equity of 80.21% and a negative net margin of 11.99%.The firm had revenue of $115.77 million for the quarter, compared to analysts’ expectations of $113.53 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. On average, research analysts expect that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Grindr

Institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. lifted its stake in Grindr by 442.6% in the third quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock worth $14,149,000 after purchasing an additional 1,217,017 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 buying an additional 1,058,084 shares during the period. Norges Bank bought a new stake in shares of Grindr in the 2nd quarter valued at about $16,618,000. Franklin Resources Inc. lifted its stake in shares of Grindr by 1,060.9% in the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after acquiring an additional 709,857 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in 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 acquiring an additional 618,227 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analysts Forecast Growth

GRND has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Citizens Jmp cut their target price on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Grindr presently has a consensus rating of “Moderate Buy” and an average target price 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.