James Fu Bin Lu Sells 200,811 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 200,811 shares of Grindr stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $24.05, for a total transaction of $4,829,504.55. Following the completion of the sale, the director now owns 28,082,445 shares of the company’s stock, valued at approximately $675,382,802.25. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, May 12th, James Fu Bin Lu sold 480,770 shares of Grindr stock. The shares were sold at an average price of $23.78, for a total transaction of $11,432,710.60.

Grindr Stock Performance

NYSE GRND opened at $23.49 on Monday. The firm’s fifty day moving average price is $19.64 and its two-hundred day moving average price is $17.73. The stock has a market cap of $4.89 billion, a PE ratio of -67.12 and a beta of 0.28. Grindr Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $24.80.

Grindr (NYSE:GRND) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. As a group, sell-side analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Grindr from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Raymond James reissued an “outperform” rating and issued a $26.00 price objective (up from $22.00) on shares of Grindr in a research note on Friday, May 9th. JMP Securities reissued a “market outperform” rating and issued a $24.00 price objective on shares of Grindr in a research note on Monday, April 21st. Finally, Citigroup reissued an “outperform” rating on shares of Grindr in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grindr has an average rating of “Buy” and a consensus price target of $23.25.

Institutional Trading of Grindr

A number of hedge funds and other institutional investors have recently modified their holdings of GRND. Barclays PLC grew its stake in shares of Grindr by 106.8% during the third quarter. Barclays PLC now owns 72,580 shares of the company’s stock worth $865,000 after buying an additional 37,477 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Grindr by 66.7% during the third quarter. JPMorgan Chase & Co. now owns 232,343 shares of the company’s stock worth $2,772,000 after purchasing an additional 93,005 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Grindr by 140.5% during the fourth quarter. SG Americas Securities LLC now owns 155,893 shares of the company’s stock worth $2,781,000 after purchasing an additional 91,077 shares during the period. R Squared Ltd acquired a new position in shares of Grindr during the fourth quarter worth $101,000. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Grindr by 5.6% during the fourth quarter. Bleakley Financial Group LLC now owns 28,712 shares of the company’s stock worth $512,000 after purchasing an additional 1,524 shares during the period. Institutional investors own 7.22% of the company’s stock.

About Grindr

Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.