Grindr (NYSE:GRND) Major Shareholder Sells $4,004,853.58 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 302,939 shares of Grindr stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $13.22, for a total value of $4,004,853.58. Following the sale, the insider owned 116,823 shares of the company’s stock, valued at approximately $1,544,400.06. This represents a 72.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $1,486,628.64.
• 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 transaction of $1,245,720.63.
• On Monday, December 29th, James Fu Bin Lu sold 3,628 shares of Grindr stock. The shares were 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 shares were 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 shares were sold at an average price of $13.65, for a total value of $1,033,960.20.
• On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The stock was sold at an average price of $14.01, for a total value of $60,467.16.
• On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The shares were sold at an average price of $14.10, for a total value of $5,127,676.50.
• On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The shares were 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 stock was sold at an average price of $14.80, for a total value of $4,320,830.40.

Grindr Trading Up 0.5%

NYSE:GRND traded up $0.06 during mid-day trading on Tuesday, reaching $13.18. The company’s stock had a trading volume of 809,671 shares, compared to its average volume of 1,145,046. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $2.43 billion, a P/E ratio of -35.62 and a beta of 0.23. The company’s fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $15.55. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13.

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

Institutional Trading of Grindr

A number of hedge funds have recently made changes to their positions in GRND. Balyasny Asset Management L.P. boosted its holdings in 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 period. Jacobs Levy Equity Management Inc. lifted its position 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 buying an additional 1,058,084 shares during the last quarter. Norges Bank bought a new position in shares of Grindr in the 2nd quarter worth about $16,618,000. Franklin Resources Inc. boosted its holdings in shares of Grindr by 1,060.9% in the 2nd quarter. Franklin Resources Inc. now owns 776,769 shares of the company’s stock valued at $17,633,000 after buying an additional 709,857 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Grindr by 288.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock valued at $18,898,000 after buying an additional 618,227 shares during the last quarter. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GRND shares. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Citizens Jmp dropped their price target on Grindr from $23.00 to $21.00 and set a “market outperform” rating for the company in a research note on Monday, November 10th. Finally, Wall Street Zen downgraded Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.