Insider Selling: Grindr (NYSE:GRND) Major Shareholder Sells 475,000 Shares of Stock

Grindr Inc. (NYSE:GRND) major shareholder James Fu Bin Lu sold 475,000 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $10.01, for a total value of $4,754,750.00. Following the transaction, the insider directly owned 18,432,101 shares of the company’s stock, valued at $184,505,331.01. The trade was a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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 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 Wednesday, February 4th, James Fu Bin Lu sold 375,000 shares of Grindr stock. The shares were sold at an average price of $10.13, for a total value of $3,798,750.00.
• 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 transaction of $2,514,457.47.
• On Monday, February 2nd, James Fu Bin Lu sold 178,427 shares of Grindr stock. The shares were sold at an average price of $11.14, for a total transaction of $1,987,676.78.
• On Friday, January 30th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The stock was sold at an average price of $11.27, for a total transaction 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 shares were 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 transaction of $2,396,000.00.
• On Tuesday, January 20th, James Fu Bin Lu sold 200,000 shares of Grindr stock. The shares were sold at an average price of $12.06, for a total value 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.

Grindr Stock Up 3.0%

NYSE GRND traded up $0.30 during trading on Friday, reaching $10.22. 2,837,701 shares of the company’s stock were exchanged, compared to its average volume of 1,562,003. The company has a 50 day moving average price of $12.75 and a two-hundred day moving average price of $14.31. The stock has a market cap of $1.89 billion, a P/E ratio of -27.63 and a beta of 0.22. Grindr Inc. has a 1 year low of $9.73 and a 1 year 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) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.16 EPS for the quarter, beating 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 revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. On average, equities research analysts anticipate that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Grindr

Large investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. grew its position in Grindr by 442.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 942,017 shares of the company’s stock valued at $14,149,000 after buying an additional 1,217,017 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Grindr by 327.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,381,211 shares of the company’s stock worth $20,746,000 after acquiring an additional 1,058,084 shares during the period. Norges Bank acquired a new stake in shares of Grindr in the 2nd quarter worth $16,618,000. Franklin Resources Inc. boosted its holdings in shares of 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 acquiring an additional 709,857 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Grindr by 288.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 832,513 shares of the company’s stock worth $18,898,000 after acquiring an additional 618,227 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

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

About Grindr

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.