Key Points
- Major insider sale: James Fu Bin Lu sold 100,000 Grindr shares on Dec. 23 at $13.80 each for $1.38M, leaving him with 559,455 shares (a 15.16% reduction) according to an SEC filing.
- Ongoing liquidation: Lu has sold roughly 2.64 million shares since Oct. 13 across multiple transactions, raising about $36.9M in total, indicating significant insider selling activity.
- Company snapshot: Grindr recently beat quarterly EPS expectations ($0.16 vs. $0.12) with revenue up 29.6% year-over-year, trades around $13.41, and carries a consensus analyst rating of "Moderate Buy" with a $22.50 target.
Grindr Inc. (NYSE:GRND - Get Free Report) major shareholder James Fu Bin Lu sold 43,994 shares of Grindr stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $13.51, for a total transaction of $594,358.94. Following the sale, the insider owned 515,461 shares in the company, valued at approximately $6,963,878.11. This trade represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Tuesday, December 23rd, James Fu Bin Lu sold 100,000 shares of Grindr stock. The stock was sold at an average price of $13.80, for a total transaction of $1,380,000.00.
- On Tuesday, November 18th, James Fu Bin Lu sold 75,748 shares of Grindr stock. The shares were sold at an average price of $13.65, for a total value 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 value of $60,467.16.
- On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The stock was sold at an average price of $14.10, for a total value of $5,127,676.50.
- On Thursday, November 13th, James Fu Bin Lu sold 205,579 shares of Grindr stock. The shares were sold at an average price of $14.45, for a total value 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.
- 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 shares were sold at an average price of $13.13, for a total transaction 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 transaction 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 transaction of $4,532,500.00.
Grindr Price Performance
Shares of Grindr stock opened at $13.41 on Tuesday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -36.25 and a beta of 0.23. The firm's 50-day moving average price is $13.66 and its two-hundred day moving average price is $16.21. 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 Inc. has a 1-year low of $11.73 and a 1-year high of $25.13.
Grindr (NYSE:GRND - Get Free Report) 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. The business had revenue of $115.77 million for the quarter, compared to the consensus estimate 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 was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, equities analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Grindr
Several large investors have recently made changes to their positions in GRND. Y Intercept Hong Kong Ltd acquired a new stake in Grindr during the 2nd quarter worth $1,832,000. Bryce Point Capital LLC bought a new position in shares of Grindr in the 2nd quarter worth $851,000. Tredje AP fonden acquired a new stake in shares of Grindr during the second quarter worth $956,000. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Grindr during the second quarter worth $7,171,000. Finally, Shaker Investments LLC OH bought a new stake in Grindr in the second quarter valued at about $992,000. Institutional investors and hedge funds own 7.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Grindr in a research note on Monday, December 22nd. Citizens Jmp decreased their price objective on shares of Grindr from $23.00 to $21.00 and set a "market outperform" rating on the stock in a report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.50.
Check Out Our Latest Analysis on GRND
About Grindr
(
Get Free Report)
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.
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