Grindr (NYSE:GRND) Hits New 12-Month Low Following Insider Selling

Grindr Inc. (NYSE:GRND)’s stock price hit a new 52-week low on Friday following insider selling activity. The stock traded as low as $11.67 and last traded at $11.92, with a volume of 280017 shares. The stock had previously closed at $11.98.

Specifically, major shareholder James Fu Bin Lu sold 200,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $11.98, for a total transaction of $2,396,000.00. Following the completion of the transaction, the insider directly owned 21,133,867 shares in the company, valued at approximately $253,183,726.66. The trade was a 0.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James Fu Bin Lu sold 200,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $12.06, for a total transaction of $2,412,000.00. Following the completion of the sale, the insider owned 21,533,867 shares in the company, valued at $259,698,436.02. This represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

GRND has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citizens Jmp dropped 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.50.

Grindr Stock Down 0.1%

The firm has a market capitalization of $2.21 billion, a P/E ratio of -32.34 and a beta of 0.23. The firm’s 50-day moving average is $13.20 and its 200 day moving average is $14.97. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82.

Grindr (NYSE:GRND) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $115.77 million during the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. As a group, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Grindr

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Grindr by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock valued at $34,430,000 after acquiring an additional 9,952 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Grindr by 327.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after acquiring an additional 1,058,084 shares in the last quarter. Bank of America Corp DE boosted its position in Grindr by 93.5% during the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock valued at $28,589,000 after purchasing an additional 608,554 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in Grindr by 144.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock valued at $15,675,000 after purchasing an additional 615,900 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Grindr by 8.7% in the second quarter. Federated Hermes Inc. now owns 978,287 shares of the company’s stock valued at $22,207,000 after purchasing an additional 78,375 shares in the last quarter. 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.