In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Professional Diversity Network Inc. (NASDAQ:IPDN) reported that Alomari Ahmed has picked up 245,000 of common stock as of 2017-04-26.
The acquisition brings the aggregate amount owned by Alomari Ahmed to a total of 245,000 representing less than 6.2% stake in the company.
For those not familiar with the company, Professional Diversity Network, Inc. is an operator of professional networks with a focus on diversity. The Company serves various communities, including Women, Hispanic-Americans, African-Americans, Asian-Americans, Disabled, Military Professionals, and Lesbian, Gay, Bisexual and Transgender (LGBT). The Company’s segments include Professional Diversity Network (PDN Network), which includes online professional networking communities with career resources for the needs of various diverse cultural groups; National Association of Professional Women (NAPW Network), a women-only professional networking organization, and Noble Voice operations (Noble Voice), a career consultation and lead generation service. The Noble Voice call centers qualify callers for real-time job placement. The PDN Network consists of various online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent.
A glance at Professional Diversity Network Inc. (NASDAQ:IPDN)’s key stats reveals a current market capitalization of 36.35 Million based on 3.93 Million shares outstanding and a price at last close of $9.40 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-18, Cosmic picked up 312,500 at a purchase price of $9.60. This brings their total holding to 2,295,842 as of the date of the filing.
On the sell side, the most recent transaction saw Proman unload 3,274 shares at a sale price of 0.63. This brings their total holding to 1,647,397.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Professional Diversity Network Inc. (NASDAQ:IPDN) as things move forward to see if its progress aligns with these transactions.
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