Grindr (NYSE:GRND) Major Shareholder James Fu Bin Lu Sells 92,071 Shares

Grindr Inc. (NYSE:GRND - Get Free Report) major shareholder James Fu Bin Lu sold 92,071 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $13.53, for a total transaction of $1,245,720.63. Following the completion of the sale, the insider directly owned 419,762 shares of the company's stock, valued at approximately $5,679,379.86. This represents a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 Monday, December 29th, James Fu Bin Lu sold 3,628 shares of Grindr stock. The stock was sold at an average price of $13.50, for a total value of $48,978.00.
• On Friday, December 26th, James Fu Bin Lu sold 43,994 shares of Grindr stock. The shares were sold at an average price of $13.51, for a total value of $594,358.94.
• 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 value 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 transaction of $2,970,616.55.
• 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 transaction of $4,320,830.40.
• On Tuesday, November 11th, James Fu Bin Lu sold 558,744 shares of Grindr stock. The stock was sold at an average price of $14.99, for a total transaction 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.

Grindr Price Performance

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GRND opened at $13.23 on Thursday. The company has a fifty day moving average price of $13.59 and a two-hundred day moving average price of $15.78. The firm has a market capitalization of $2.44 billion, a PE ratio of -35.74 and a beta of 0.23. Grindr Inc. has a 52 week low of $11.73 and a 52 week high of $25.13. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82.

Grindr (NYSE:GRND - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share (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 analyst estimates of $113.53 million. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The firm's revenue was up 29.6% on a year-over-year basis. During the same period last year, the company earned $0.09 EPS. As a group, analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citizens Jmp decreased 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 reissued a "sell (d-)" rating on shares of Grindr in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Grindr from a "buy" rating to a "hold" rating in a research report on Saturday, October 18th. 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Read Our Latest Stock Analysis on Grindr

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GRND. Caitong International Asset Management Co. Ltd acquired a new position in shares of Grindr in the third quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock worth $34,000 after purchasing an additional 1,385 shares during the period. Raymond James Financial Inc. acquired a new position in Grindr in the 2nd quarter worth $39,000. CWM LLC increased its holdings in Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company's stock worth $56,000 after purchasing an additional 552 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of Grindr by 190.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,793 shares of the company's stock valued at $57,000 after purchasing an additional 2,488 shares during the period. Institutional investors own 7.22% of the company's stock.

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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