Grindr (NYSE:GRND) Director James Fu Bin Lu Sells 400,000 Shares

Key Points

• Grindr Director James Fu Bin Lu sold a total of 400,000 shares on October 15th for approximately $5.18 million, decreasing his position by 1.60%.
• The company's stock recently reached a price of $12.97, with a 12-month range between $11.73 and $25.13, and a market capitalization of $2.49 billion.
• Analysts have mixed opinions on Grindr's stock, with a consensus rating of "Moderate Buy" and a price target of $22.60.

Grindr Inc. (NYSE:GRND - Get Free Report) Director James Fu Bin Lu sold 400,000 shares of the company's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $12.96, for a total transaction of $5,184,000.00. Following the completion of the sale, the director directly owned 24,538,867 shares of the company's stock, valued at $318,023,716.32. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

James Fu Bin Lu also recently made the following trade(s):

• On Monday, October 13th, James Fu Bin Lu sold 350,000 shares of Grindr stock. The stock was sold at an average price of $12.95, for a total transaction of $4,532,500.00.
• On Friday, October 10th, James Fu Bin Lu sold 300,000 shares of Grindr stock. The stock was sold at an average price of $11.94, for a total transaction 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 Price Performance

Grindr stock traded up $0.24 during midday trading on Friday, hitting $12.97. The company's stock had a trading volume of 4,813,595 shares, compared to its average volume of 1,946,986. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 1.43. The stock's 50-day moving average price is $15.23 and its 200-day moving average price is $19.19. Grindr Inc. has a 12 month low of $11.73 and a 12 month high of $25.13. The company has a market capitalization of $2.49 billion, a PE ratio of -29.48 and a beta of 0.23.

Grindr (NYSE:GRND - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $104.00 million during the quarter, compared to the consensus estimate of $104.40 million. Grindr had a positive return on equity of 84.93% and a negative net margin of 14.41%.Grindr's revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.13) earnings per share. Analysts anticipate that Grindr Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grindr

A number of large investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in Grindr by 81.2% during the third quarter. Voya Investment Management LLC now owns 243,824 shares of the company's stock worth $3,662,000 after purchasing an additional 109,250 shares during the period. Osaic Holdings Inc. boosted its position in Grindr by 749.0% during the second quarter. Osaic Holdings Inc. now owns 6,486 shares of the company's stock worth $147,000 after purchasing an additional 5,722 shares during the period. Orion Porfolio Solutions LLC boosted its position in Grindr by 190.6% during the second quarter. Orion Porfolio Solutions LLC now owns 66,908 shares of the company's stock worth $1,519,000 after purchasing an additional 43,886 shares during the period. Tower Research Capital LLC TRC boosted its position in Grindr by 171.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,321 shares of the company's stock worth $166,000 after purchasing an additional 4,621 shares during the period. Finally, Florida Financial Advisors LLC bought a new stake in Grindr during the second quarter worth approximately $561,000. Institutional investors own 7.22% of the company's stock.

Wall Street Analyst Weigh In

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