Key Points
- Major shareholder James Fu Bin Lu sold 200,000 shares of Grindr on Jan. 27 at an average price of $11.74 for $2,348,000, leaving him with 20,494,867 shares valued at about $240.6 million (the filing noted a 0.97% reduction from that trade).
- Lu has been actively selling over the past weeks — the article lists roughly 1,569,748 shares sold across multiple trades since Nov. 18, generating approximately $19.8 million in proceeds.
Grindr Inc. (NYSE:GRND - Get Free Report) major shareholder James Fu Bin Lu sold 200,000 shares of the company's stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $11.74, for a total transaction of $2,348,000.00. Following the completion of the sale, the insider directly owned 20,494,867 shares in the company, valued at approximately $240,609,738.58. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Monday, January 26th, James Fu Bin Lu sold 239,000 shares of Grindr stock. The stock was sold at an average price of $11.97, for a total transaction 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 transaction 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.
- 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 transaction of $4,004,853.58.
- On Monday, January 5th, James Fu Bin Lu sold 92,071 shares of Grindr stock. The stock was 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 shares were sold at an average price of $13.50, for a total transaction 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 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.
Grindr Price Performance
Grindr stock opened at $11.74 on Wednesday. The stock has a market capitalization of $2.17 billion, a P/E ratio of -31.73 and a beta of 0.23. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $13.11 and a 200-day moving average of $14.78. Grindr Inc. has a 52 week low of $11.52 and a 52 week high of $25.13.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $115.77 million during 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 last year, the company earned $0.09 earnings per share. On average, sell-side analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in Grindr during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock valued at $34,000 after purchasing an additional 1,385 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Grindr during the second quarter valued at about $39,000. CWM LLC boosted its holdings in Grindr by 713.8% during the fourth quarter. CWM LLC now owns 2,946 shares of the company's stock worth $40,000 after purchasing an additional 2,584 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its stake in 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 buying an additional 2,488 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GRND. Citizens Jmp dropped their target price on shares of Grindr from $23.00 to $21.00 and set a "market outperform" rating on the stock in a research report on Monday, November 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Grindr in a research note 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 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.
Get Our Latest Analysis on GRND
Grindr Company Profile
(
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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