Key Points
- James Fu Bin Lu sold 200,000 shares of Grindr (NYSE: GRND) on Jan. 22 at an average price of $11.98 for proceeds of $2,396,000, leaving him with 21,133,867 shares valued at about $253.18 million (a 0.94% drop in his ownership).
- Lu has been selling repeatedly in recent months, offloading roughly 1.50 million shares across multiple trades for approximately $19.8 million in total, including large blocks on Nov. 14 and Jan. 9.
- Grindr shares trade near $11.98 with a 12‑month range of $11.73–$25.13 and a market cap of about $2.21 billion; analysts carry a consensus rating of "Moderate Buy" with a $22.50 average price target.
Grindr Inc. (NYSE:GRND - Get Free Report) major shareholder James Fu Bin Lu sold 200,000 shares of Grindr stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $11.98, for a total transaction of $2,396,000.00. Following the transaction, the insider directly owned 21,133,867 shares in the company, valued at approximately $253,183,726.66. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 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 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 transaction 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 value of $1,486,628.64.
- On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The shares were 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 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 shares were 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 transaction of $1,033,960.20.
- On Monday, November 17th, James Fu Bin Lu sold 4,316 shares of Grindr stock. The stock was sold at an average price of $14.01, for a total transaction 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 transaction of $5,127,676.50.
Grindr Price Performance
Shares of GRND opened at $11.98 on Friday. The company has a 50 day moving average of $13.24 and a two-hundred day moving average of $15.09. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.73. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -32.38 and a beta of 0.23.
Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results 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 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%.The business's quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. As a group, analysts predict that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on GRND shares. Wall Street Zen lowered Grindr from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Grindr in a research report on Monday, December 29th. Finally, Citizens Jmp cut their price target on shares of Grindr from $23.00 to $21.00 and set a "market outperform" rating on the stock in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.
Check Out Our Latest Research Report on Grindr
Hedge Funds Weigh In On Grindr
Institutional investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. lifted its stake in Grindr by 442.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company's stock valued at $14,149,000 after acquiring an additional 1,217,017 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Grindr by 327.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company's stock worth $20,746,000 after purchasing an additional 1,058,084 shares during the last quarter. Norges Bank acquired a new position in Grindr during the second quarter valued at $16,618,000. Franklin Resources Inc. boosted its holdings in Grindr by 1,060.9% in the second quarter. Franklin Resources Inc. now owns 776,769 shares of the company's stock valued at $17,633,000 after purchasing an additional 709,857 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Grindr by 288.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company's stock worth $18,898,000 after purchasing an additional 618,227 shares during the period. 7.22% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
