Initiates Coverage on Professional Diversity Network (NASDAQ:IPDN) assumed coverage on shares of Professional Diversity Network (NASDAQ:IPDNGet Rating) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the information services provider’s stock.

IPDN stock opened at $0.92 on Friday. The company has a market capitalization of $15.04 million, a price-to-earnings ratio of -4.60 and a beta of 18.27. Professional Diversity Network has a fifty-two week low of $0.71 and a fifty-two week high of $2.75. The stock has a fifty day moving average of $0.92 and a 200-day moving average of $0.97.

Professional Diversity Network (NASDAQ:IPDNGet Rating) last posted its quarterly earnings results on Thursday, March 31st. The information services provider reported ($0.09) earnings per share for the quarter. The firm had revenue of $1.47 million for the quarter. Professional Diversity Network had a negative return on equity of 112.57% and a negative net margin of 45.51%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley bought a new stake in shares of Professional Diversity Network during the 1st quarter valued at about $226,000. State Street Corp purchased a new position in shares of Professional Diversity Network during the 2nd quarter valued at about $38,000. Citadel Advisors LLC purchased a new position in Professional Diversity Network in the 2nd quarter worth approximately $66,000. Geode Capital Management LLC increased its stake in Professional Diversity Network by 62.8% in the 3rd quarter. Geode Capital Management LLC now owns 57,034 shares of the information services provider’s stock worth $71,000 after purchasing an additional 22,006 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Professional Diversity Network during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

About Professional Diversity Network (Get Rating)

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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