Grindr (NYSE:GRND) Major Shareholder Sells $6,042,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 600,000 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $10.07, for a total transaction of $6,042,000.00. Following the completion of the sale, the insider directly owned 18,907,101 shares in the company, valued at approximately $190,394,507.07. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The shares were sold at an average price of $10.01, for a total value of $4,754,750.00.
• On Wednesday, February 4th, James Fu Bin Lu sold 375,000 shares of Grindr stock. The shares were sold at an average price of $10.13, for a total transaction of $3,798,750.00.
• On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The stock was sold at an average price of $10.73, for a total transaction of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The stock was sold at an average price of $11.14, for a total transaction of $1,987,676.78.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.27, for a total transaction of $2,254,000.00.
• On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.74, for a total transaction of $2,348,000.00.
• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The stock was sold at an average price of $11.97, for a total transaction of $2,860,830.00.
• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.98, for a total value of $2,396,000.00.
• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $12.06, for a total value of $2,412,000.00.
• On Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The shares were sold at an average price of $13.23, for a total value of $1,486,628.64.

Grindr Trading Up 3.0%

NYSE GRND opened at $10.22 on Monday. The business has a 50 day simple moving average of $12.75 and a 200 day simple moving average of $14.24. Grindr Inc. has a one year low of $9.73 and a one year high of $25.13. The stock has a market capitalization of $1.89 billion, a P/E ratio of -27.63 and a beta of 0.22. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82.

Grindr (NYSE:GRND) last posted its quarterly 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 for 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 for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Grindr

Several hedge funds and other institutional investors have recently made changes to their positions in GRND. Balyasny Asset Management L.P. raised its stake in shares of 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. grew its stake in shares of Grindr by 327.5% in the 3rd 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. Norges Bank bought a new stake in shares of Grindr in the 2nd quarter worth $16,618,000. Franklin Resources Inc. raised its holdings in shares of Grindr by 1,060.9% in the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after purchasing an additional 709,857 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Grindr by 288.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after purchasing an additional 618,227 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GRND has been the subject of several research analyst reports. Citizens Jmp decreased their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research note 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 analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Grindr currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Company Profile

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.