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

Key Points

• James Fu Bin Lu, a director at Grindr, sold a total of 1.65 million shares over three transactions in October, significantly reducing his stake by 1.38%.
• Grindr's stock is currently trading at $12.73, slightly down from recent highs, and has a market cap of $2.44 billion.
• The company reported an earnings per share (EPS) of $0.08 for its last quarter, missing analysts' expectations, with revenues up 26.6% year-over-year.

Grindr Inc. (NYSE:GRND - Get Free Report) Director James Fu Bin Lu sold 350,000 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $12.95, for a total value of $4,532,500.00. Following the transaction, the director directly owned 24,938,867 shares in the company, valued at $322,958,327.65. The trade was a 1.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 shares were sold at an average price of $11.94, for a total value 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 Down 0.1%

NYSE GRND traded down $0.02 during trading on Wednesday, reaching $12.73. 4,203,821 shares of the company's stock traded hands, compared to its average volume of 2,719,324. Grindr Inc. has a 12-month low of $11.73 and a 12-month high of $25.13. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.48 and a quick ratio of 2.48. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -28.92 and a beta of 0.23. The company's 50 day simple moving average is $15.33 and its two-hundred day simple moving average is $19.23.

Grindr (NYSE:GRND - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The business had revenue of $104.00 million for the quarter, compared to the consensus estimate of $104.40 million. Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. Grindr's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) earnings per share. As a group, sell-side analysts forecast that Grindr Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Grindr

Several hedge funds have recently made changes to their positions in GRND. CWM LLC grew its stake in Grindr by 838.5% during the 1st quarter. CWM LLC now owns 1,924 shares of the company's stock valued at $34,000 after purchasing an additional 1,719 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Grindr by 1,473.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,479 shares of the company's stock valued at $34,000 after buying an additional 1,385 shares during the last quarter. GAMMA Investing LLC increased its holdings in Grindr by 45.5% in the 1st quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock worth $38,000 after buying an additional 662 shares during the period. Raymond James Financial Inc. acquired a new position in Grindr in the 2nd quarter worth approximately $39,000. Finally, Huntington National Bank purchased a new position in Grindr during the 2nd quarter worth approximately $64,000. 7.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRND has been the topic of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Grindr in a research note on Wednesday, October 8th. Raymond James Financial cut their price objective on shares of Grindr from $26.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen raised shares of Grindr from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. JMP Securities cut their price target on shares of Grindr from $27.00 to $23.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. Finally, Citizens Jmp started coverage on Grindr in a research report on Monday, June 30th. They set an "outperform" rating and a $27.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.60.

Grindr Company Profile

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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