Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu Sells 683,297 Shares of Stock

Grindr Inc. (NYSE:GRND) Director James Fu Bin Lu sold 683,297 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.17, for a total transaction of $10,365,615.49. Following the completion of the transaction, the director now owns 33,027,338 shares in the company, valued at approximately $501,024,717.46. The trade was a 2.03 % decrease in their ownership of the stock. The transaction 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, 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 Stock Performance

NYSE GRND opened at $15.12 on Friday. The stock’s fifty day moving average is $13.64 and its two-hundred day moving average is $12.03. The firm has a market capitalization of $2.67 billion, a P/E ratio of -44.00 and a beta of 0.37. Grindr Inc. has a fifty-two week low of $7.62 and a fifty-two week high of $15.52.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen lifted their price objective on Grindr from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Raymond James lifted their price objective on Grindr from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

Institutional Investors Weigh In On Grindr

A number of hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Grindr by 9.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,682 shares of the company’s stock valued at $163,000 after buying an additional 1,166 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Grindr by 16.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,796 shares of the company’s stock worth $120,000 after acquiring an additional 1,667 shares during the last quarter. Hsbc Holdings PLC raised its position in Grindr by 9.5% in the second quarter. Hsbc Holdings PLC now owns 23,632 shares of the company’s stock valued at $286,000 after purchasing an additional 2,050 shares during the period. nVerses Capital LLC acquired a new position in shares of Grindr in the 3rd quarter valued at $27,000. Finally, Bleakley Financial Group LLC grew its holdings in shares of Grindr by 9.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 27,188 shares of the company’s stock worth $324,000 after purchasing an additional 2,371 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

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.