Grindr (NYSE:GRND) Major Shareholder Sells $3,798,750.00 in Stock

by · The Markets Daily

Grindr Inc. (NYSE:GRND – Get Free Report) major shareholder James Fu Bin Lu sold 375,000 shares of Grindr stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $10.13, for a total value of $3,798,750.00. Following the sale, the insider directly owned 19,507,101 shares in the company, valued at approximately $197,606,933.13. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major 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 Friday, February 6th, James Fu Bin Lu sold 475,000 shares of Grindr stock. The stock was sold at an average price of $10.01, for a total value of $4,754,750.00.
  • On Thursday, February 5th, James Fu Bin Lu sold 600,000 shares of Grindr stock. The shares were sold at an average price of $10.07, for a total value of $6,042,000.00.
  • On Tuesday, February 3rd, James Fu Bin Lu sold 234,339 shares of Grindr stock. The stock was sold at an average price of $10.73, for a total value of $2,514,457.47.
  • On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The stock was sold at an average price of $11.14, for a total value of $1,987,676.78.
  • On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.27, for a total value of $2,254,000.00.
  • On Tuesday, January 27th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $11.74, for a total transaction of $2,348,000.00.
  • 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 shares were sold at an average price of $11.98, for a total transaction 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 stock was sold at an average price of $13.23, for a total transaction of $1,486,628.64.

Grindr Stock Up 3.0%

Shares of NYSE GRND traded up $0.30 on Friday, reaching $10.22. 2,837,701 shares of the company’s stock traded hands, compared to its average volume of 1,562,003. The business’s 50 day simple moving average is $12.75 and its two-hundred day simple moving average is $14.31. Grindr Inc. has a 12 month low of $9.73 and a 12 month high of $25.13. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -27.63 and a beta of 0.22. 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 (NYSE:GRND – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Grindr had a positive return on equity of 80.21% and a negative net margin of 11.99%.The company had revenue of $115.77 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. As a group, equities research analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRND. AQR Capital Management LLC boosted its position in shares of Grindr by 289.1% during the first quarter. AQR Capital Management LLC now owns 88,134 shares of the company’s stock valued at $1,578,000 after buying an additional 65,485 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Grindr by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock worth $517,000 after buying an additional 762 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Grindr during the 2nd quarter valued at about $228,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Grindr by 46.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,300 shares of the company’s stock valued at $166,000 after acquiring an additional 2,300 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Grindr by 28.7% during the 2nd quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after acquiring an additional 552 shares during the last quarter. 7.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Grindr in a report on Monday, December 29th. Wall Street Zen lowered shares of Grindr from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Citizens Jmp decreased their target price 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. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Grindr presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Get Our Latest Stock 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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