Spark Networks Inc. (NYSEMKT:LOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Spark Networks is a leading provider of online personals in the United States and internationally. Our comprehensive, user-friendly websites offer convenient and safe places for likeminded singles to connect. Many of these connections lead to long term relationships and quite often marriage. “
Separately, B. Riley reiterated a “buy” rating and set a $3.00 target price on shares of Spark Networks in a research report on Sunday, August 14th.
Spark Networks (NYSEMKT:LOV) opened at 1.60 on Wednesday. Spark Networks has a 12 month low of $1.40 and a 12 month high of $4.14. The stock’s 50 day moving average is $1.65 and its 200 day moving average is $1.81. The company’s market cap is $41.51 million.
Spark Networks (NYSEMKT:LOV) last issued its earnings results on Wednesday, August 10th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analyst estimates of $9.62 million. Equities analysts predict that Spark Networks will post ($0.14) earnings per share for the current year.
In related news, Director Bradley Goldberg bought 14,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was bought at an average cost of $1.93 per share, with a total value of $27,020.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $5,790. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Lloyd I. Miller III bought 292,958 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was bought at an average cost of $1.55 per share, with a total value of $454,084.90. Following the completion of the purchase, the insider now owns 787,542 shares of the company’s stock, valued at approximately $1,220,690.10. The disclosure for this purchase can be found here.
Several institutional investors have recently made changes to their positions in the company. Robotti Robert increased its position in shares of Spark Networks by 2.8% in the second quarter. Robotti Robert now owns 320,600 shares of the company’s stock worth $507,000 after buying an additional 8,750 shares in the last quarter. Financial & Investment Management Group Ltd. increased its position in shares of Spark Networks by 33.1% in the second quarter. Financial & Investment Management Group Ltd. now owns 459,077 shares of the company’s stock worth $725,000 after buying an additional 114,110 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Spark Networks during the first quarter worth $651,000. Finally, Renaissance Technologies LLC increased its position in shares of Spark Networks by 15.2% in the first quarter. Renaissance Technologies LLC now owns 184,600 shares of the company’s stock worth $410,000 after buying an additional 24,400 shares in the last quarter.
Spark Networks Company Profile
Spark Networks, Inc is engaged in creating brands and communities that help individuals form life-long relationships with others that share their interests and values. The Company operates through four segments, such as Jewish Networks, which consists of JDate, JDate.co.uk, JDate.fr, JDate.co.il, Cupid.co.il and JSwipe; Christian Networks, which consists of ChristianMingle, CrossPaths, ChristianMingle.co.uk, ChristianMingle.com.au, Believe.com, ChristianCards.net, DailyBibleVerse.com and Faith.com; Other Networks, which consists of Spark.com and related other general market Websites, as well as other properties, which primarily consists of sites focused towards various religious, ethnic, geographic and special interest groups, and Offline & Other Businesses segment, which consists of revenue generated from offline activities.
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