Insider Selling: Grindr Inc. (NYSE:GRND) Director Sells 750,000 Shares of Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 750,000 shares of Grindr stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the transaction, the director now directly owns 31,540,655 shares of the company’s stock, valued at $477,525,516.70. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, December 4th, James Fu Bin Lu sold 692,211 shares of Grindr stock. The stock was sold at an average price of $15.37, for a total transaction of $10,639,283.07.
• On Monday, December 2nd, James Fu Bin Lu sold 683,297 shares of Grindr stock. The stock was sold at an average price of $15.17, for a total transaction of $10,365,615.49.
• On Wednesday, November 13th, James Fu Bin Lu sold 195,600 shares of Grindr stock. The shares were sold at an average price of $14.39, for a total value of $2,814,684.00.

Grindr Stock Performance

Grindr stock opened at $15.74 on Friday. The company has a market capitalization of $2.78 billion, a PE ratio of -44.97 and a beta of 0.37. The company has a 50 day moving average price of $14.17 and a 200-day moving average price of $12.32. Grindr Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $16.31.

Institutional Investors Weigh In On Grindr

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in shares of Grindr during the 3rd quarter worth $7,720,000. Barclays PLC lifted its stake in Grindr by 106.8% in the third quarter. Barclays PLC now owns 72,580 shares of the company’s stock worth $865,000 after acquiring an additional 37,477 shares during the period. Geode Capital Management LLC grew its holdings in Grindr by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 514,520 shares of the company’s stock worth $6,139,000 after acquiring an additional 36,001 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in Grindr during the 3rd quarter valued at about $278,000. Finally, Petrus Trust Company LTA raised its holdings in shares of Grindr by 330.7% in the 3rd quarter. Petrus Trust Company LTA now owns 60,312 shares of the company’s stock valued at $720,000 after purchasing an additional 46,309 shares in the last quarter. 7.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GRND has been the subject of a number of research analyst reports. TD Cowen raised their price target on Grindr from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Raymond James lifted their target price on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

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.