Professional Diversity Network (NASDAQ:IPDN) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Professional Diversity Network (NASDAQ:IPDN) in a note issued to investors on Friday. The firm set a “sell” rating on the information services provider’s stock.

Professional Diversity Network Trading Down 6.1 %

IPDN opened at $1.55 on Friday. The firm has a 50-day moving average price of $2.25 and a 200-day moving average price of $3.22. Professional Diversity Network has a twelve month low of $0.92 and a twelve month high of $7.77.

Professional Diversity Network (NASDAQ:IPDN) last released its quarterly earnings data on Monday, August 14th. The information services provider reported ($0.14) earnings per share for the quarter. The business had revenue of $1.84 million during the quarter. Professional Diversity Network had a negative net margin of 59.36% and a negative return on equity of 197.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IPDN. Geode Capital Management LLC increased its holdings in Professional Diversity Network by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 67,211 shares of the information services provider’s stock worth $299,000 after acquiring an additional 31,673 shares during the period. Renaissance Technologies LLC bought a new position in shares of Professional Diversity Network in the first quarter worth $136,000. State Street Corp raised its position in shares of 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 buying an additional 6,700 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in Professional Diversity Network during the second quarter valued at $67,000. Hedge funds and other institutional investors own 7.92% of the company’s stock.

About Professional Diversity Network

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.