Grindr Inc. (NYSE:GRND - Get Free Report) Director James Fu Bin Lu sold 229,627 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $23.99, for a total value of $5,508,751.73. Following the completion of the sale, the director now owns 27,693,332 shares in the company, valued at $664,363,034.68. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $23.93, for a total value 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 value of $6,010,286.28.
- On Thursday, May 22nd, James Fu Bin Lu sold 168,009 shares of Grindr stock. The shares were sold at an average price of $23.98, for a total value of $4,028,855.82.
- 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 value 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 value of $11,432,710.60.
Grindr Price Performance
Shares of GRND stock traded down $0.13 during trading hours on Friday, reaching $24.40. The company had a trading volume of 1,739,215 shares, compared to its average volume of 1,114,615. Grindr Inc. has a 12 month low of $8.95 and a 12 month high of $25.36. The business has a fifty day simple moving average of $20.91 and a 200-day simple moving average of $18.28. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -69.71 and a beta of 0.28.
Grindr (NYSE:GRND - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Grindr had a negative return on equity of 177.83% and a negative net margin of 16.27%. On average, equities research analysts expect that Grindr Inc. will post 0.29 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages recently commented on GRND. Citigroup restated an "outperform" rating on shares of Grindr in a research report on Thursday, March 6th. Wall Street Zen upgraded Grindr from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group increased their price target on Grindr from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Monday, May 12th. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price target on shares of Grindr in a report on Monday, April 21st. Finally, Raymond James reiterated an "outperform" rating and issued a $26.00 price target (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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.25.
Get Our Latest Analysis on GRND
Institutional Trading of Grindr
A number of hedge funds have recently bought and sold shares of the business. BIT Capital GmbH lifted its holdings in Grindr by 9.6% during the fourth quarter. BIT Capital GmbH now owns 3,989,058 shares of the company's stock worth $71,165,000 after acquiring an additional 349,189 shares during the period. Vanguard Group Inc. lifted its holdings in Grindr by 23.5% during the first quarter. Vanguard Group Inc. now owns 1,714,514 shares of the company's stock worth $30,690,000 after acquiring an additional 325,996 shares during the period. Nuveen LLC bought a new stake in Grindr during the first quarter worth $20,049,000. Marshall Wace LLP lifted its holdings in Grindr by 85.2% during the fourth quarter. Marshall Wace LLP now owns 1,117,053 shares of the company's stock worth $19,928,000 after acquiring an additional 513,770 shares during the period. Finally, Bwcp LP lifted its holdings in Grindr by 61.8% during the first quarter. Bwcp LP now owns 1,096,586 shares of the company's stock worth $19,629,000 after acquiring an additional 418,994 shares during the period. 7.22% of the stock is currently owned by institutional investors.
About Grindr
(
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.
Recommended Stories
Before you consider Grindr, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grindr wasn't on the list.
While Grindr currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
