Spark Networks Inc. (NYSEMKT:LOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 set a $3.00 target price on shares of Spark Networks and gave the stock a “buy” rating in a report on Tuesday, August 9th.
Shares of Spark Networks (NYSEMKT:LOV) opened at 1.57 on Wednesday. The firm’s market capitalization is $40.73 million. The company’s 50-day moving average is $1.62 and its 200 day moving average is $1.88. Spark Networks has a 52-week low of $1.40 and a 52-week high of $4.14.
Spark Networks (NYSEMKT:LOV) last issued its earnings results on Wednesday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. The business earned $9.10 million during the quarter, compared to the consensus estimate of $9.62 million. Analysts expect that Spark Networks will post ($0.14) EPS for the current fiscal year.
In other news, Director Osmium Partners, Llc bought 51,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $1.48 per share, with a total value of $76,220.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lloyd I. Miller III bought 840,031 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average cost of $1.55 per share, for a total transaction of $1,302,048.05. Following the acquisition, the insider now owns 787,542 shares of the company’s stock, valued at $1,220,690.10. The disclosure for this purchase can be found here.
A number of large investors have recently made changes to their positions in LOV. Kovitz Investment Group Partners LLC purchased a new stake in shares of Spark Networks during the first quarter valued at approximately $651,000. Financial & Investment Management Group Ltd. boosted its stake in shares of 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. Robotti Robert boosted its stake in shares of Spark Networks by 57.5% in the first quarter. Robotti Robert now owns 311,850 shares of the company’s stock valued at $692,000 after buying an additional 113,869 shares during the last quarter. Finally, Renaissance Technologies LLC boosted 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 during the last quarter.
About Spark Networks
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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