StockNews.com Initiates Coverage on Professional Diversity Network (NASDAQ:IPDN)

StockNews.com assumed coverage on shares of Professional Diversity Network (NASDAQ:IPDNFree Report) in a research note issued to investors on Wednesday. The brokerage issued a sell rating on the information services provider’s stock.

Professional Diversity Network Price Performance

NASDAQ:IPDN opened at $2.38 on Wednesday. Professional Diversity Network has a fifty-two week low of $1.15 and a fifty-two week high of $7.77. The business has a 50 day moving average price of $2.22 and a 200-day moving average price of $2.23.

Professional Diversity Network (NASDAQ:IPDNGet Free Report) last released its quarterly earnings data on Tuesday, November 14th. The information services provider reported ($0.12) earnings per share for the quarter. The company had revenue of $2.01 million for the quarter. Professional Diversity Network had a negative net margin of 63.08% and a negative return on equity of 224.43%.

Institutional Trading of Professional Diversity Network

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Professional Diversity Network by 13.3% during the fourth quarter. Geode Capital Management LLC now owns 39,674 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 4,646 shares during the period. State Street Corp lifted its stake in Professional Diversity Network by 40.4% in the second quarter. State Street Corp now owns 23,285 shares of the information services provider’s stock worth $104,000 after acquiring an additional 6,700 shares during the period. Vanguard Group Inc. lifted its stake in Professional Diversity Network by 8.3% in the third quarter. Vanguard Group Inc. now owns 127,631 shares of the information services provider’s stock worth $327,000 after acquiring an additional 9,800 shares during the period. BlackRock Inc. purchased a new stake in Professional Diversity Network in the second quarter worth $67,000. Finally, Renaissance Technologies LLC purchased a new stake in Professional Diversity Network in the first quarter worth $136,000. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Professional Diversity Network Company Profile

(Get Free Report)

Professional Diversity Network, Inc operates online professional networking communities with career resources in the United States. It operates in three segments: Professional Diversity Network (PDN Network), National Association of Professional Women (NAPW Network), and RemoteMore USA (RemoteMore). The company offers online professional job seeking communities that offers recruitment services, such as single and multiple job postings, recruitment media, talent recruitment communities, corporate memberships, hiring campaign marketing and advertising, e-newsletter marketing, and research and outreach services to various cultural groups and employers.

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