James Fu Bin Lu Sells 239,000 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 239,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $11.97, for a total transaction of $2,860,830.00. Following the transaction, the insider directly owned 20,694,867 shares of the company’s stock, valued at $247,717,557.99. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.74, for a total value of $2,348,000.00.
• 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 transaction of $2,412,000.00.
• 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 transaction of $1,486,628.64.
• On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The stock was sold at an average price of $13.22, for a total value 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 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 stock was 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 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 value of $1,033,960.20.

Grindr Stock Down 1.0%

GRND stock opened at $11.62 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a 1-year low of $11.52 and a 1-year high of $25.13. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -31.39 and a beta of 0.23. The company’s 50 day moving average is $13.07 and its 200 day moving average is $14.76.

Grindr (NYSE:GRND) last posted its quarterly earnings data 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. The firm had revenue of $115.77 million for the quarter, compared to analysts’ expectations of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The business’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Sell-side analysts predict that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Grindr

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Grindr by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,292,256 shares of the company’s stock worth $34,430,000 after acquiring an additional 9,952 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in 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 purchasing an additional 1,058,084 shares in the last quarter. Bank of America Corp DE grew its position in Grindr by 93.5% during the 2nd 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 position in Grindr by 144.0% during the 3rd 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 during the last quarter. Finally, Federated Hermes Inc. increased its stake in Grindr by 8.7% during the 2nd 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. 7.22% of the stock is owned by institutional investors.

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.