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 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 completion of the sale, the director now directly owns 31,540,655 shares of the company’s stock, valued at approximately $477,525,516.70. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $15.37, for a total value of $10,639,283.07.
• On Monday, December 2nd, James Fu Bin Lu sold 683,297 shares of Grindr stock. The shares were sold at an average price of $15.17, for a total value 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 value of $2,814,684.00.

Grindr Trading Up 0.4 %

Shares of Grindr stock opened at $15.74 on Friday. The firm has a market cap of $2.78 billion, a PE ratio of -44.97 and a beta of 0.37. The stock has a 50 day moving average of $14.17 and a 200 day moving average of $12.32. Grindr Inc. has a 12 month low of $7.83 and a 12 month high of $16.31.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

About Grindr

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.