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

StockNews.com initiated coverage on shares of Professional Diversity Network (NASDAQ:IPDN – Get Rating) in a report issued on Saturday morning. The brokerage issued a hold rating on the information services provider’s stock.

Shares of Professional Diversity Network stock opened at $0.86 on Friday. Professional Diversity Network has a 1 year low of $0.71 and a 1 year high of $2.75. The business has a 50 day moving average price of $0.93 and a 200 day moving average price of $0.98. The company has a market capitalization of $14.06 million, a P/E ratio of -4.30 and a beta of 18.27.

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

A number of large investors have recently bought and sold shares of the business. Morgan Stanley acquired a new position in shares of Professional Diversity Network in the 1st quarter valued at $226,000. Geode Capital Management LLC raised its holdings in shares of 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. Citadel Advisors LLC purchased a new stake in shares of Professional Diversity Network during the 2nd quarter worth about $66,000. Renaissance Technologies LLC acquired a new stake in Professional Diversity Network during the 4th quarter worth approximately $39,000. Finally, State Street Corp purchased a new position in Professional Diversity Network in the second quarter valued at approximately $38,000. 1.49% of the stock is currently owned by institutional investors.

Professional Diversity Network Company Profile (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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