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

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

Professional Diversity Network Trading Down 23.5 %

Shares of Professional Diversity Network stock opened at $1.66 on Tuesday. Professional Diversity Network has a 1 year low of $1.15 and a 1 year high of $6.91. The company has a 50 day simple moving average of $2.16 and a two-hundred day simple moving average of $2.03.

Institutional Investors Weigh In On Professional Diversity Network

A number of hedge funds have recently made changes to their positions in IPDN. Geode Capital Management LLC lifted its holdings 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 worth $299,000 after acquiring an additional 31,673 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Professional Diversity Network in the first quarter worth $136,000. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 17,734 shares during the period. BlackRock Inc. purchased a new position in shares of Professional Diversity Network in the second quarter worth $67,000. Finally, State Street Corp increased its stake 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 during the period. 27.75% of the stock is currently owned by institutional investors.

Professional Diversity Network Company Profile

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.