Professional Diversity Network (NASDAQ:IPDN) Now Covered by StockNews.com

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

Professional Diversity Network Stock Performance

Professional Diversity Network stock opened at $1.68 on Friday. Professional Diversity Network has a 52 week low of $1.15 and a 52 week high of $5.50. The stock has a market capitalization of $19.24 million, a P/E ratio of -4.00 and a beta of 12.79. The stock has a fifty day moving average of $1.92 and a 200-day moving average of $1.96.

Institutional Investors Weigh In On Professional Diversity Network

A number of hedge funds have recently made changes to their positions in IPDN. Vanguard Group Inc. lifted its stake in Professional Diversity Network by 8.3% in 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 lifted its stake in shares of Professional Diversity Network by 89.1% in the 2nd quarter. Geode Capital Management LLC now owns 67,211 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 31,673 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Professional Diversity Network during the 1st quarter valued at $136,000. State Street Corp grew its position in 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 worth $104,000 after acquiring an additional 6,700 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in Professional Diversity Network in the 2nd quarter worth about $67,000. 27.75% of the stock is currently owned by institutional investors and hedge funds.

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.