Key Points
- Major shareholder James Fu Bin Lu sold 205,579 Grindr shares on Nov. 13 at an average price of $14.45 (~$2.97M); over the past weeks he has sold about 3.36 million shares in total, roughly $45.4M in proceeds.
- After the trades he still owns 22,832,596 shares (valued at about $329.9M), a 0.89% reduction in his stake; meanwhile Grindr reported Q3 EPS of $0.16 beating estimates with revenue up 29.6% YoY, and analysts hold a consensus "Moderate Buy" with a $22.50 target.
Grindr Inc. (NYSE:GRND - Get Free Report) major shareholder James Fu Bin Lu sold 205,579 shares of Grindr stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $14.45, for a total transaction of $2,970,616.55. Following the completion of the transaction, the insider owned 22,832,596 shares of the company's stock, valued at $329,931,012.20. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
James Fu Bin Lu also recently made the following trade(s):
- 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.
- On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The shares were sold at an average price of $14.99, for a total value of $8,375,572.56.
- On Friday, October 17th, James Fu Bin Lu sold 250,000 shares of Grindr stock. The stock was sold at an average price of $13.13, for a total value of $3,282,500.00.
- On Wednesday, October 15th, James Fu Bin Lu sold 400,000 shares of Grindr stock. The stock was sold at an average price of $12.96, for a total value of $5,184,000.00.
- On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The shares were sold at an average price of $12.95, for a total value of $4,532,500.00.
- On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The shares were sold at an average price of $11.94, for a total value of $3,582,000.00.
- On Thursday, October 9th, James Fu Bin Lu sold 1,000,000 shares of Grindr stock. The stock was sold at an average price of $13.15, for a total transaction of $13,150,000.00.
Grindr Price Performance
GRND stock opened at $14.38 on Friday. The firm has a 50 day moving average of $14.45 and a 200-day moving average of $18.54. The firm has a market capitalization of $2.76 billion, a P/E ratio of -38.86 and a beta of 0.22. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13. 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 - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping 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 business had revenue of $115.77 million for the quarter, compared to analyst estimates of $113.53 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Grindr's revenue was up 29.6% on a year-over-year basis. Grindr has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Institutional Trading of Grindr
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC grew its position in Grindr by 825.9% during the third quarter. Jump Financial LLC now owns 162,830 shares of the company's stock valued at $2,446,000 after acquiring an additional 145,244 shares during the last quarter. Entropy Technologies LP boosted its stake in shares of Grindr by 25.0% in the 3rd quarter. Entropy Technologies LP now owns 34,323 shares of the company's stock valued at $516,000 after purchasing an additional 6,862 shares in the last quarter. UBS Group AG grew its holdings in shares of Grindr by 56.5% during the 3rd quarter. UBS Group AG now owns 574,544 shares of the company's stock valued at $8,630,000 after purchasing an additional 207,370 shares during the last quarter. Franklin Resources Inc. raised its position in Grindr by 8.5% in the 3rd quarter. Franklin Resources Inc. now owns 842,924 shares of the company's stock worth $12,661,000 after purchasing an additional 66,155 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Grindr in the third quarter worth $237,000. Hedge funds and other institutional investors own 7.22% of the company's stock.
Wall Street Analyst Weigh In
GRND has been the topic of a number of recent analyst reports. Citizens Jmp lowered their price objective on Grindr from $23.00 to $21.00 and set a "market outperform" rating on the stock in a research report on Monday. JMP Securities decreased their target price on Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. Raymond James Financial lowered their price target on Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered 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 research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Grindr presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.
Read Our Latest Research Report on Grindr
Grindr Company Profile
(
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Grindr Inc operates social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities worldwide. Its platform enables LGBTQ people to find and engage with each other, share content and experiences, and express themselves. The company offers ad-supported service and a premium subscription version.
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