Professional Diversity Network (NASDAQ:IPDN) Earns Sell Rating from Analysts at StockNews.com

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

Professional Diversity Network Price Performance

Shares of Professional Diversity Network stock opened at $1.68 on Friday. The firm has a market cap of $19.24 million, a price-to-earnings ratio of -4.00 and a beta of 12.79. Professional Diversity Network has a 1 year low of $1.15 and a 1 year high of $5.50. The company has a 50-day moving average of $1.92 and a 200 day moving average of $1.96.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake 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 valued at $299,000 after purchasing an additional 31,673 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Professional Diversity Network during the 1st quarter valued at $136,000. Vanguard Group Inc. boosted its position in Professional Diversity Network by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 145,365 shares of the information services provider’s stock worth $295,000 after purchasing an additional 17,734 shares during the last quarter. BlackRock Inc. bought a new stake in Professional Diversity Network during the second quarter valued at approximately $67,000. Finally, State Street Corp grew its position in shares of Professional Diversity Network by 40.4% during the 2nd quarter. State Street Corp now owns 23,285 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 6,700 shares during the period. Hedge funds and other institutional investors own 27.75% 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.