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

StockNews.com assumed coverage on shares of Professional Diversity Network (NASDAQ:IPDN) in a research report report published on Thursday morning. The firm issued a sell rating on the information services provider’s stock.

Professional Diversity Network Stock Up 2.8 %

Shares of NASDAQ IPDN opened at $1.81 on Thursday. The firm has a market capitalization of $20.72 million, a P/E ratio of -4.31 and a beta of 12.79. The stock’s 50-day simple moving average is $1.97 and its two-hundred day simple moving average is $1.99. Professional Diversity Network has a twelve month low of $1.15 and a twelve month high of $5.50.

Hedge Funds Weigh In On Professional Diversity Network

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Professional Diversity Network by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 127,631 shares of the information services provider’s stock valued at $327,000 after purchasing an additional 9,800 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 during the last quarter. Renaissance Technologies LLC bought a new position in shares of Professional Diversity Network during the 1st quarter valued at about $136,000. State Street Corp increased 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 purchasing an additional 6,700 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Professional Diversity Network during the 2nd quarter valued at about $67,000. 27.75% of the stock is currently owned by institutional investors.

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.