Zacks Investment Research upgraded shares of Spark Networks Inc. (NYSEMKT:LOV) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
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 $3.00 price target on shares of Spark Networks in a research note on Sunday, August 14th.
Spark Networks (NYSEMKT:LOV) opened at 1.5501 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 $1.66 and its 200 day moving average is $1.78. The stock’s market capitalization is $40.22 million.
Spark Networks (NYSEMKT:LOV) last released its earnings results on Wednesday, August 10th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $9.62 million. Equities research analysts forecast that Spark Networks will post ($0.14) EPS for the current fiscal year.
In other news, major shareholder Lloyd I. Miller III acquired 840,031 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was acquired at an average cost of $1.55 per share, with a total value of $1,302,048.05. Following the completion of the acquisition, the insider now owns 787,542 shares of the company’s stock, valued at $1,220,690.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradley Goldberg purchased 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were bought at an average cost of $1.93 per share, with a total value of $27,020.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $5,790. The disclosure for this purchase can be found here.
Several large investors have recently modified their holdings of LOV. Renaissance Technologies LLC increased its stake 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 valued at $410,000 after buying an additional 24,400 shares in 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 worth $507,000 after buying an additional 8,750 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in Spark Networks during the first quarter worth approximately $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 worth $725,000 after buying an additional 114,110 shares during the period.
Spark Networks Company Profile