Insider Selling: Grindr (NYSE:GRND) Director Sells 300,000 Shares of Stock

Key Points

• Grindr Director James Fu Bin Lu sold a total of 1.65 million shares of stock within a few days in October 2023, with notable transactions that generated a combined total of over $21 million.
• The company’s stock has a recent trading price of $12.73, reflecting a slight decrease and a market cap of $2.44 billion, with a P/E ratio of -28.92.
• Grindr reported $104.00 million in revenue for its last quarter, missing estimates, and had a negative net margin of 14.41%, while analysts forecast earnings per share of 0.29 for the current year.

Grindr Inc. (NYSE:GRND - Get Free Report) Director James Fu Bin Lu sold 300,000 shares of the company's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $11.94, for a total transaction of $3,582,000.00. Following the completion of the sale, the director owned 25,288,867 shares in the company, valued at $301,949,071.98. This represents a 1.17% decrease in their position. The transaction was disclosed in a legal 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 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 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 on Wednesday, hitting $12.73. The stock had a trading volume of 4,203,821 shares, compared to its average volume of 2,719,324. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.48 and a current ratio of 2.48. The stock has a market cap of $2.44 billion, a P/E ratio of -28.92 and a beta of 0.23. Grindr Inc. has a 1 year low of $11.73 and a 1 year high of $25.13. The firm's fifty 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Grindr had a negative net margin of 14.41% and a positive return on equity of 84.93%. The firm had revenue of $104.00 million during the quarter, compared to analysts' expectations of $104.40 million. During the same quarter last year, the business posted ($0.13) EPS. The company's quarterly revenue was up 26.6% on a year-over-year basis. Analysts predict that Grindr Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Grindr

Several hedge funds have recently added to or reduced their stakes in GRND. Wealth Enhancement Advisory Services LLC bought a new position in shares of Grindr during the first quarter valued at about $197,000. Allspring Global Investments Holdings LLC raised its stake in shares of Grindr by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,716 shares of the company's stock valued at $1,808,000 after acquiring an additional 5,265 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Grindr by 45.5% during the first quarter. GAMMA Investing LLC now owns 2,116 shares of the company's stock valued at $38,000 after acquiring an additional 662 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Grindr by 42.0% during the first quarter. Deutsche Bank AG now owns 402,822 shares of the company's stock valued at $7,211,000 after acquiring an additional 119,121 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Grindr by 3.0% during the first quarter. Rhumbline Advisers now owns 43,043 shares of the company's stock valued at $770,000 after acquiring an additional 1,272 shares during the last quarter. 7.22% of the stock is owned by institutional investors.

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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