Grindr Inc. (NYSE:GRND - Get Free Report) Director James Fu Bin Lu sold 168,009 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $23.98, for a total transaction of $4,028,855.82. Following the sale, the director now directly owns 27,922,959 shares of the company's stock, valued at $669,592,556.82. This represents a 0.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
James Fu Bin Lu also recently made the following trade(s):
- On Wednesday, May 28th, James Fu Bin Lu sold 852,567 shares of Grindr stock. The stock was sold at an average price of $23.93, for a total transaction of $20,401,928.31.
- On Tuesday, May 27th, James Fu Bin Lu sold 251,898 shares of Grindr stock. The shares were sold at an average price of $23.86, for a total transaction of $6,010,286.28.
- On Friday, May 23rd, James Fu Bin Lu sold 229,627 shares of Grindr stock. The shares were sold at an average price of $23.99, for a total transaction of $5,508,751.73.
- On Wednesday, May 14th, James Fu Bin Lu sold 200,811 shares of Grindr stock. The shares were sold at an average price of $24.05, for a total transaction of $4,829,504.55.
- On Monday, May 12th, James Fu Bin Lu sold 480,770 shares of Grindr stock. The shares were sold at an average price of $23.78, for a total transaction of $11,432,710.60.
Grindr Stock Performance
Shares of GRND stock traded down $0.13 during midday trading on Friday, hitting $24.40. 1,739,215 shares of the company were exchanged, compared to its average volume of 1,117,367. The firm has a market capitalization of $4.78 billion, a P/E ratio of -69.71 and a beta of 0.28. The firm's 50 day moving average price is $21.03 and its two-hundred day moving average price is $18.35. Grindr Inc. has a 52 week low of $8.95 and a 52 week high of $25.08.
Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Grindr had a negative net margin of 16.27% and a negative return on equity of 177.83%. Analysts expect that Grindr Inc. will post 0.29 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Citigroup reiterated an "outperform" rating on shares of Grindr in a research note on Thursday, March 6th. Wall Street Zen upgraded shares of Grindr from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on shares of Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities reaffirmed a "market outperform" rating and set a $24.00 target price on shares of Grindr in a report on Monday, April 21st. Finally, Raymond James reaffirmed an "outperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Grindr in a report on Friday, May 9th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $23.25.
Read Our Latest Research Report on GRND
Institutional Trading of Grindr
Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in Grindr by 838.5% in the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock worth $34,000 after purchasing an additional 1,719 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after buying an additional 662 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Grindr by 31.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,655 shares of the company's stock valued at $47,000 after buying an additional 642 shares in the last quarter. Quarry LP raised its position in shares of Grindr by 209.2% in the 4th quarter. Quarry LP now owns 3,423 shares of the company's stock valued at $61,000 after buying an additional 2,316 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Grindr by 511.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,638 shares of the company's stock valued at $83,000 after buying an additional 3,880 shares in the last quarter. Institutional investors and hedge funds own 7.22% of the company's stock.
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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