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

StockNews.com started coverage on shares of Professional Diversity Network (NASDAQ:IPDN) in a research note released on Tuesday. The brokerage issued a sell rating on the information services provider’s stock.

Professional Diversity Network Trading Up 7.2 %

IPDN opened at $1.78 on Tuesday. Professional Diversity Network has a twelve month low of $1.15 and a twelve month high of $6.91. The firm’s fifty day moving average is $2.15 and its two-hundred day moving average is $2.03.

Hedge Funds Weigh In On Professional Diversity Network

Several hedge funds and other institutional investors have recently made changes to their positions in IPDN. Vanguard Group Inc. boosted its stake in shares of 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 boosted its holdings in Professional Diversity Network by 89.1% during the second quarter. Geode Capital Management LLC now owns 67,211 shares of the information services provider’s stock worth $299,000 after purchasing an additional 31,673 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Professional Diversity Network in the 1st quarter worth approximately $136,000. State Street Corp grew its stake in Professional Diversity Network by 40.4% during the second quarter. State Street Corp now owns 23,285 shares of the information services provider’s stock valued at $104,000 after acquiring an additional 6,700 shares in the last quarter. Finally, BlackRock Inc. bought 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.