Spark Networks Inc (NYSEMKT:LOV) Lowered to “Sell” at Zacks Investment Research
Spark Networks Inc (NYSEMKT:LOV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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 “neutral” rating and issued a $1.30 target price on shares of Spark Networks in a report on Tuesday, May 9th.
Shares of Spark Networks (NYSEMKT LOV) traded down 3.16% during midday trading on Thursday, reaching $0.92. 9,929 shares of the company’s stock traded hands. The company has a 50 day moving average of $0.96 and a 200 day moving average of $0.98. Spark Networks has a 52-week low of $0.76 and a 52-week high of $2.08. The firm’s market cap is $29.53 million.
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Hedge funds have recently made changes to their positions in the stock. Robotti Robert increased its stake in Spark Networks by 5.7% in the first quarter. Robotti Robert now owns 314,125 shares of the technology company’s stock worth $324,000 after buying an additional 16,800 shares during the period. Royce & Associates LP increased its stake in Spark Networks by 22.5% in the first quarter. Royce & Associates LP now owns 322,175 shares of the technology company’s stock worth $332,000 after buying an additional 59,175 shares during the period. Renaissance Technologies LLC increased its stake in Spark Networks by 9.3% in the first quarter. Renaissance Technologies LLC now owns 328,200 shares of the technology company’s stock worth $338,000 after buying an additional 27,900 shares during the period. Finally, Financial & Investment Management Group Ltd. increased its stake in Spark Networks by 29.6% in the first quarter. Financial & Investment Management Group Ltd. now owns 555,012 shares of the technology company’s stock worth $572,000 after buying an additional 126,920 shares during the period.
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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