Grindr (NYSE:GRND) Major Shareholder Sells $6,042,000.00 in Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 600,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $10.07, for a total value of $6,042,000.00. Following the completion of the sale, the insider directly owned 18,907,101 shares of the company’s stock, valued at $190,394,507.07. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% 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 Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The stock was sold at an average price of $10.01, for a total transaction of $4,754,750.00.
• On Wednesday, February 4th, James Fu Bin Lu sold 375,000 shares of Grindr stock. The shares were sold at an average price of $10.13, for a total transaction of $3,798,750.00.
• 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 transaction of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The shares were sold at an average price of $11.14, for a total transaction of $1,987,676.78.
• 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 transaction 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 value of $2,348,000.00.
• On Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The shares were 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 value 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 shares were sold at an average price of $13.23, for a total value of $1,486,628.64.

Grindr Stock Performance

Shares of NYSE GRND traded up $0.30 during mid-day trading on Friday, reaching $10.22. 2,837,701 shares of the company’s stock were exchanged, compared to its average volume of 1,562,003. The firm has a 50-day moving average price of $12.75 and a two-hundred day moving average price of $14.31. 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 firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -27.63 and a beta of 0.22. Grindr Inc. has a 52 week low of $9.73 and a 52 week high of $25.13.

Grindr (NYSE:GRND) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business 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% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GRND shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Wall Street Zen cut Grindr from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citizens Jmp cut 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. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Grindr has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Hedge Funds Weigh In On Grindr

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in shares of Grindr by 289.1% during the 1st quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after purchasing an additional 65,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after buying an additional 762 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Grindr during the second quarter valued at about $228,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Grindr by 46.0% in the second quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock worth $166,000 after buying an additional 2,300 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Grindr by 28.7% in the second 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 period. 7.22% of the stock is 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.