James Fu Bin Lu Sells 750,000 Shares of Grindr Inc. (NYSE:GRND) Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.14, for a total transaction of $11,355,000.00. Following the completion of the transaction, the director now directly owns 31,540,655 shares in the company, valued at approximately $477,525,516.70. The trade was a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were 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 stock was sold at an average price of $14.39, for a total transaction of $2,814,684.00.

Grindr Stock Down 1.1 %

GRND traded down $0.17 during trading on Thursday, hitting $15.68. The company had a trading volume of 281,628 shares, compared to its average volume of 539,048. The company has a market capitalization of $2.77 billion, a PE ratio of -44.80 and a beta of 0.37. Grindr Inc. has a one year low of $7.83 and a one year high of $16.31. The firm’s 50-day moving average price is $14.09 and its 200 day moving average price is $12.28.

Institutional Investors Weigh In On Grindr

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Grindr in the 3rd quarter valued at $27,000. Point72 DIFC Ltd acquired a new stake in Grindr in the 2nd quarter valued at $136,000. Price T Rowe Associates Inc. MD increased its stake in Grindr by 16.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock valued at $120,000 after buying an additional 1,667 shares during the last quarter. Quest Partners LLC increased its stake in Grindr by 9,055.0% in the 2nd quarter. Quest Partners LLC now owns 12,817 shares of the company’s stock valued at $157,000 after buying an additional 12,677 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in Grindr in the 3rd quarter valued at $160,000. 7.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.