James Fu Bin Lu Sells 200,000 Shares of Grindr (NYSE:GRND) Stock

by · The Markets Daily

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 on Thursday, January 22nd. The shares were sold at an average price of $11.98, for a total value of $2,396,000.00. Following the sale, the insider directly owned 21,133,867 shares of the company’s stock, valued at approximately $253,183,726.66. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 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 transaction of $1,486,628.64.
  • On Friday, January 9th, James Fu Bin Lu sold 302,939 shares of Grindr stock. The stock was 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 transaction 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 stock was sold at an average price of $13.51, for a total transaction 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 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 value of $60,467.16.
  • On Friday, November 14th, James Fu Bin Lu sold 363,665 shares of Grindr stock. The shares were sold at an average price of $14.10, for a total value of $5,127,676.50.

Grindr Stock Up 0.3%

NYSE:GRND traded up $0.04 during trading hours on Thursday, hitting $11.98. 1,066,606 shares of the company’s stock traded hands, compared to its average volume of 1,031,873. The stock’s fifty day moving average price is $13.24 and its two-hundred day moving average price is $15.09. The firm has a market cap of $2.21 billion, a P/E ratio of -32.38 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. Grindr Inc. has a twelve month low of $11.73 and a twelve month high of $25.13.

Grindr (NYSE:GRND – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $115.77 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.09 EPS. On average, research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Grindr

Several large investors have recently added to or reduced their stakes in GRND. CWM LLC grew its position in shares of Grindr by 28.7% in the second quarter. CWM LLC now owns 2,476 shares of the company’s stock valued at $56,000 after purchasing an additional 552 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Grindr by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,878 shares of the company’s stock valued at $517,000 after purchasing an additional 762 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Grindr by 41.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,407 shares of the company’s stock valued at $77,000 after buying an additional 1,002 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Grindr by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,634 shares of the company’s stock valued at $332,000 after buying an additional 1,086 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Grindr by 1,473.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company’s stock worth $34,000 after buying an additional 1,385 shares during the period. 7.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Read Our Latest Stock Report on Grindr

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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