James Fu Bin Lu Sells 178,427 Shares of Grindr (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 178,427 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $11.14, for a total value of $1,987,676.78. Following the sale, the insider owned 20,116,440 shares in the company, valued at approximately $224,097,141.60. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The stock was sold at an average price of $10.73, for a total value of $2,514,457.47.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.27, for a total value of $2,254,000.00.
• On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.74, for a total transaction of $2,348,000.00.
• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The stock was sold at an average price of $11.97, for a total value of $2,860,830.00.
• On Thursday, January 22nd, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.98, for a total transaction of $2,396,000.00.
• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $12.06, for a total value of $2,412,000.00.
• On Monday, January 12th, James Fu Bin Lu sold 112,368 shares of Grindr stock. The stock was sold at an average price of $13.23, for a total transaction of $1,486,628.64.
• On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The stock was sold at an average price of $13.22, for a total value of $4,004,853.58.
• On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The shares were 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 shares were sold at an average price of $13.50, for a total transaction of $48,978.00.

Grindr Stock Performance

Shares of Grindr stock traded down $0.52 on Tuesday, hitting $10.49. The stock had a trading volume of 3,371,474 shares, compared to its average volume of 1,266,328. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. The business’s 50 day moving average is $12.91 and its two-hundred day moving average is $14.44. Grindr Inc. has a twelve month low of $10.44 and a twelve month high of $25.13. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -28.34 and a beta of 0.22.

Grindr (NYSE:GRND) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $115.77 million during the quarter, compared to the consensus estimate of $113.53 million. Grindr had a negative net margin of 11.99% and a positive return on equity of 80.21%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Analysts forecast that Grindr Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Grindr currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Institutional Investors Weigh In On Grindr

Several institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. purchased a new position in shares of Grindr during the fourth quarter worth about $158,000. CWM LLC boosted its position in Grindr by 713.8% during the 4th quarter. CWM LLC now owns 2,946 shares of the company’s stock valued at $40,000 after buying an additional 2,584 shares during the period. FNY Investment Advisers LLC purchased a new stake in Grindr in the 4th quarter worth approximately $148,000. Fortitude Family Office LLC boosted its holdings in Grindr by 398.2% in the fourth quarter. Fortitude Family Office LLC now owns 4,509 shares of the company’s stock valued at $61,000 after acquiring an additional 3,604 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Grindr by 33.6% during the third quarter. JPMorgan Chase & Co. now owns 346,122 shares of the company’s stock valued at $5,199,000 after buying an additional 87,076 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.