Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells 112,368 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 112,368 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $13.23, for a total value of $1,486,628.64. Following the sale, the insider owned 4,455 shares in the company, valued at $58,939.65. The trade was a 96.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major 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 Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The shares were sold at an average price of $13.22, for a total transaction 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 value 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 value of $594,358.94.
• On Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The shares were sold at an average price of $13.80, for a total value 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 transaction of $1,033,960.20.
• 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 shares were 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 transaction 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.

Grindr Stock Performance

Grindr stock traded up $0.06 during mid-day trading on Tuesday, hitting $13.18. The company had a trading volume of 809,671 shares, compared to its average volume of 1,145,046. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -35.62 and a beta of 0.23. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. The company’s fifty day moving average is $13.55 and its 200-day moving average is $15.55. 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 (NYSE:GRND) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.Grindr’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. Equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Grindr

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRND. CWM LLC grew its holdings 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 buying an additional 552 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after acquiring an additional 762 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Grindr by 41.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after acquiring an additional 1,002 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Grindr by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after purchasing an additional 1,086 shares during the period. Finally, Rhumbline Advisers increased its position in Grindr by 3.0% during the first quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock worth $770,000 after purchasing an additional 1,272 shares during the last quarter. Institutional investors and hedge funds own 7.22% of the company’s stock.

Analysts Set New Price Targets

GRND has been the topic of a number of research analyst reports. Citizens Jmp dropped their price target on shares of Grindr from $23.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.