Spark Networks SE (NYSEAMERICAN:LOV) Short Interest Up 412.4% in October

Spark Networks SE (NYSEAMERICAN:LOV) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 53,800 shares, a growth of 412.4% from the September 15th total of 10,500 shares. Based on an average daily volume of 102,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the stock are sold short.

A hedge fund recently bought a new stake in Spark Networks stock. Canaan Partners VIII LLC purchased a new stake in shares of Spark Networks SE (NYSEAMERICAN:LOV) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,077,777 shares of the technology company’s stock, valued at approximately $22,550,000. Spark Networks comprises approximately 70.9% of Canaan Partners VIII LLC’s investment portfolio, making the stock its largest holding. Canaan Partners VIII LLC owned 126.64% of Spark Networks at the end of the most recent reporting period.

Shares of NYSEAMERICAN LOV traded down $0.08 during midday trading on Monday, reaching $5.34. The company had a trading volume of 86,275 shares, compared to its average volume of 54,889. Spark Networks has a one year low of $4.85 and a one year high of $17.64.

LOV has been the subject of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $18.00 target price on shares of Spark Networks in a research note on Tuesday, August 27th. Zacks Investment Research lowered Spark Networks from a “buy” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Canaccord Genuity set a $19.00 target price on Spark Networks and gave the company a “buy” rating in a research note on Friday, August 30th.

About Spark Networks

Spark Networks SE operates online dating sites and mobile applications. It focuses on catering professionals and highly educated singles with serious relationship intentions in North America and other international markets. The company operates its dating platforms under the EliteSingles, SilverSingles, JDate, Christian Mingle, eDarling, JSwipe, and Attractive World brands.

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