Spark Networks Inc. (LOV) Upgraded to Hold at Zacks Investment Research
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 issued a $3.50 price objective on shares of Spark Networks in a report on Wednesday, August 3rd.
Shares of Spark Networks (NYSEMKT:LOV) opened at 1.63 on Wednesday. Spark Networks has a 1-year low of $1.40 and a 1-year high of $4.14. The company’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.88. The firm’s market cap is $42.29 million.
Spark Networks (NYSEMKT:LOV) last posted its earnings results on Wednesday, August 10th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $9.62 million. On average, analysts predict that Spark Networks will post ($0.14) EPS for the current year.
In other Spark Networks news, major shareholder Lloyd I. Miller III purchased 840,031 shares of the stock in a transaction on Monday, August 22nd. The stock was acquired at an average price of $1.55 per share, with a total value of $1,302,048.05. Following the transaction, the insider now directly owns 787,542 shares of the company’s stock, valued at approximately $1,220,690.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lloyd I. Miller III purchased 292,958 shares of the stock in a transaction on Wednesday, September 21st. The shares were acquired at an average cost of $1.55 per share, with a total value of $454,084.90. Following the transaction, the insider now directly owns 787,542 shares in the company, valued at $1,220,690.10. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in 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 during the last quarter. Robotti Robert increased its stake in Spark Networks by 2.8% in the second quarter. Robotti Robert now owns 320,600 shares of the company’s stock valued at $507,000 after buying an additional 8,750 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Spark Networks during the first quarter valued at $651,000. Finally, Financial & Investment Management Group Ltd. increased its stake in Spark Networks by 33.1% in the second quarter. Financial & Investment Management Group Ltd. now owns 459,077 shares of the company’s stock valued at $725,000 after buying an additional 114,110 shares during 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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