Grindr (NYSE:GRND) Sets New 52-Week Low Following Insider Selling

Grindr Inc. (NYSE:GRND)’s stock price reached a new 52-week low during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $10.44 and last traded at $10.4850, with a volume of 3371474 shares changing hands. The stock had previously closed at $11.00.

Specifically, major shareholder James Fu Bin Lu sold 234,339 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $10.73, for a total transaction of $2,514,457.47. Following the completion of the transaction, the insider owned 19,882,101 shares of the company’s stock, valued at $213,334,943.73. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder James Fu Bin Lu sold 178,427 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $11.14, for a total transaction of $1,987,676.78. Following the completion of the sale, the insider directly owned 20,116,440 shares in the company, valued at $224,097,141.60. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, major shareholder James Fu Bin Lu sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $11.27, for a total value of $2,254,000.00. Following the transaction, the insider directly owned 20,294,867 shares in the company, valued at approximately $228,723,151.09. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp lowered their price target 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. Finally, Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Grindr has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Grindr Stock Performance

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -28.34 and a beta of 0.22. The stock’s fifty day simple moving average is $12.91 and its 200-day simple moving average is $14.44.

Grindr (NYSE:GRND) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 9,952 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of 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 buying an additional 1,058,084 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Grindr by 93.5% during the second quarter. Bank of America Corp DE now owns 1,259,449 shares of the company’s stock worth $28,589,000 after buying an additional 608,554 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Grindr by 144.0% during the third quarter. Qube Research & Technologies Ltd now owns 1,043,577 shares of the company’s stock worth $15,675,000 after buying an additional 615,900 shares during the period. Finally, Federated Hermes Inc. raised its holdings 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 acquiring an additional 78,375 shares in the last quarter. 7.22% of the stock is owned by institutional investors and hedge funds.

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.