James Fu Bin Lu Sells 75,748 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 75,748 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $13.65, for a total transaction of $1,033,960.20. Following the completion of the transaction, the insider owned 22,388,867 shares of the company’s stock, valued at approximately $305,608,034.55. The trade was a 0.34% 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. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The shares were sold at an average price of $14.01, for a total transaction of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The stock was sold at an average price of $14.10, for a total transaction of $5,127,676.50.
• On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The stock was sold at an average price of $14.45, for a total value of $2,970,616.55.
• On Wednesday, November 12th, James Fu Bin Lu sold 291,948 shares of Grindr stock. The shares were sold at an average price of $14.80, for a total value of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The stock was sold at an average price of $14.99, for a total value of $8,375,572.56.
• On Friday, October 17th, James Fu Bin Lu sold 250,000 shares of Grindr stock. The stock was sold at an average price of $13.13, for a total value of $3,282,500.00.
• On Wednesday, October 15th, James Fu Bin Lu sold 400,000 shares of Grindr stock. The stock was sold at an average price of $12.96, for a total value of $5,184,000.00.
• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The stock was sold at an average price of $12.95, for a total transaction of $4,532,500.00.
• On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The stock was sold at an average price of $11.94, for a total transaction of $3,582,000.00.
• On Thursday, October 9th, James Fu Bin Lu sold 1,000,000 shares of Grindr stock. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00.

Grindr Price Performance

GRND stock traded up $0.10 during mid-day trading on Tuesday, hitting $13.97. The company had a trading volume of 2,262,536 shares, compared to its average volume of 2,625,785. The company has a 50-day moving average price of $14.35 and a 200 day moving average price of $18.32. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -37.74 and a beta of 0.22. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73.

Grindr (NYSE:GRND) last issued its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm had revenue of $115.77 million for the quarter, compared to analysts’ expectations of $113.53 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The business’s revenue was up 29.6% compared to the same quarter last year. Grindr has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GRND. Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Citizens Jmp dropped their price objective 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. Raymond James Financial reduced their target price on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Finally, JMP Securities dropped their price target on Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a research report on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Grindr currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Institutional Trading of Grindr

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its holdings in shares of Grindr by 2.8% in the first quarter. XTX Topco Ltd now owns 17,036 shares of the company’s stock worth $305,000 after buying an additional 459 shares during the period. CWM LLC grew its position in Grindr by 28.7% in the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after acquiring an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after acquiring an additional 762 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Grindr by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock worth $77,000 after purchasing an additional 1,002 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Grindr by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock worth $332,000 after purchasing an additional 1,086 shares during the last quarter. 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.