B. Riley started coverage on shares of Spark Networks (NYSEAMERICAN:LOV) in a research note released on Tuesday morning, FinViz reports. The brokerage issued a buy rating and a $6.00 price objective on the technology company’s stock.
Separately, Canaccord Genuity lowered their price target on shares of Spark Networks from $10.00 to $7.00 and set a buy rating for the company in a report on Tuesday.
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LOV opened at $3.48 on Tuesday. The company’s fifty day moving average price is $4.77. The firm has a market cap of $9.07 million, a price-to-earnings ratio of -14.50 and a beta of 1.83. Spark Networks has a twelve month low of $3.45 and a twelve month high of $8.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.32 and a current ratio of 0.32.
Spark Networks (NYSEAMERICAN:LOV) last released its quarterly earnings results on Monday, May 17th. The technology company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.21). The company had revenue of $56.38 million for the quarter, compared to analyst estimates of $55.90 million.
In other news, major shareholder John Hartnett Lewis acquired 24,707 shares of the business’s stock in a transaction that occurred on Friday, June 11th. The shares were purchased at an average cost of $5.33 per share, for a total transaction of $131,688.31. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Viii Lp Canaan sold 12,000 shares of Spark Networks stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $5.15, for a total transaction of $61,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 146,596 shares of company stock worth $777,677 over the last quarter. 2.70% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC lifted its position in Spark Networks by 14.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 20,879 shares of the technology company’s stock valued at $156,000 after purchasing an additional 2,594 shares during the last quarter. Jeereddi Investments LP bought a new stake in Spark Networks in the 1st quarter valued at about $75,000. Squarepoint Ops LLC increased its stake in Spark Networks by 86.1% during the 1st quarter. Squarepoint Ops LLC now owns 58,829 shares of the technology company’s stock valued at $438,000 after buying an additional 27,224 shares during the period. First Manhattan Co. increased its stake in Spark Networks by 175.4% during the 1st quarter. First Manhattan Co. now owns 68,350 shares of the technology company’s stock valued at $509,000 after buying an additional 43,530 shares during the period. Finally, Henry James International Management Inc. acquired a new position in Spark Networks during the 1st quarter valued at about $343,000.
About Spark Networks
Spark Networks SE operates online dating sites and mobile applications. It focuses on catering to the 40+ age demographic and religious minded singles for serious relationships in North America and other international markets. The company operates its dating platforms under the Zoosk, EliteSingles, Christian Mingle, Jdate, JSwipe, SilverSingles, etc.
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