Grindr (NYSE:GRND) Hits New 12-Month Low on Insider Selling

Grindr Inc. (NYSE:GRND) shares hit a new 52-week low during trading on Friday following insider selling activity. The stock traded as low as $11.67 and last traded at $11.92, with a volume of 280017 shares changing hands. The stock had previously closed at $11.98.

Specifically, major shareholder James Fu Bin Lu sold 200,000 shares of Grindr stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $11.98, for a total value of $2,396,000.00. Following the transaction, the insider owned 21,133,867 shares of the company’s stock, valued at approximately $253,183,726.66. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James Fu Bin Lu sold 200,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $12.06, for a total value of $2,412,000.00. Following the completion of the sale, the insider directly owned 21,533,867 shares of the company’s stock, valued at approximately $259,698,436.02. This trade represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several research firms have recently weighed in on GRND. 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 report on Monday, November 10th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Five research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Grindr Trading Down 0.9%

The company has a market capitalization of $2.19 billion, a P/E ratio of -32.09 and a beta of 0.23. 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 business’s 50-day moving average price is $13.24 and its two-hundred day moving average price is $15.09.

Grindr (NYSE:GRND) last announced its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same period last year, the company posted $0.09 EPS. The business’s quarterly revenue was up 29.6% on a year-over-year basis. As a group, analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Grindr

Several institutional investors and hedge funds have recently modified their holdings of GRND. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Grindr in the third quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in Grindr by 1,473.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock valued at $34,000 after acquiring an additional 1,385 shares during the period. Raymond James Financial Inc. bought a new stake in Grindr during the 2nd quarter valued at $39,000. CWM LLC boosted its holdings in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock worth $56,000 after acquiring an additional 552 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its holdings in shares of Grindr by 190.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company’s stock worth $57,000 after acquiring an additional 2,488 shares during the period. 7.22% of the stock is currently 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.