Grindr (NYSE:GRND) Director James Fu Bin Lu Sells 350,000 Shares

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) Director James Fu Bin Lu sold 350,000 shares of Grindr stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $12.95, for a total transaction of $4,532,500.00. Following the completion of the transaction, the director directly owned 24,938,867 shares in the company, valued at approximately $322,958,327.65. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

James Fu Bin Lu also recently made the following trade(s):

  • On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The stock was sold at an average price of $11.94, for a total transaction 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 Stock Performance

Grindr stock opened at $12.73 on Thursday. The firm’s 50 day simple moving average is $15.33 and its 200-day simple moving average is $19.23. The company has a market cap of $2.44 billion, a P/E ratio of -28.92 and a beta of 0.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48. Grindr Inc. has a fifty-two week low of $11.73 and a fifty-two week high of $25.13.

Grindr (NYSE:GRND – Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $104.00 million during the quarter, compared to analysts’ expectations of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.The business’s revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned ($0.13) earnings per share. As a group, equities research analysts predict that Grindr Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GRND shares. Wall Street Zen raised shares of Grindr from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Citizens Jmp began coverage on shares of Grindr in a report on Monday, June 30th. They set an “outperform” rating and a $27.00 price target for the company. Raymond James Financial decreased their price target on shares of Grindr from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Wednesday, October 8th. Finally, JMP Securities decreased their price target on shares of Grindr from $27.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Read Our Latest Stock Report on Grindr

Institutional Trading of Grindr

Institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Grindr in the first quarter valued at approximately $197,000. Allspring Global Investments Holdings LLC lifted its stake in Grindr by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company’s stock valued at $1,808,000 after acquiring an additional 5,265 shares during the last quarter. GAMMA Investing LLC lifted its stake in Grindr by 45.5% in the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company’s stock valued at $38,000 after acquiring an additional 662 shares during the last quarter. Deutsche Bank AG lifted its stake in Grindr by 42.0% in the first quarter. Deutsche Bank AG now owns 402,822 shares of the company’s stock valued at $7,211,000 after acquiring an additional 119,121 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Grindr by 3.0% in the first quarter. Rhumbline Advisers now owns 43,043 shares of the company’s stock valued at $770,000 after acquiring an additional 1,272 shares during the last quarter. 7.22% of the stock is currently owned by institutional investors and hedge funds.

Grindr Company Profile

(Get Free Report)

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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