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John H. Lewis, Osmium Partners Increase Stake in Spark Networks Inc (LOV)

John H. Lewis and Osmium Partners, LLC have increased their investment in Spark Networks Inc (NYSEMKT:LOV). According to a recent filing with the Securities and Exchange Commission, Lewis and Osmium Partners hold a little over 3.6 million shares, up from 3.47 million shares reported in their latest 13F filing. The current position accounts for 15.1% of the company’s common stock.

Spark Networks Inc (LOV)

Several hedge funds that we track also have Spark Networks Inc (NYSEMKT:LOV) in their equity portfolio. North Run Capital, managed by Thomas Ellis and Todd Hammer, currently holds 1.7 million shares valued at $14.4 million. J. Carlo Cannell is also invested in this stock. His fund, Cannell Capital, reported ownership of 530,341 shares worth approximately $4.4 million in its latest 13F filing. Whitney Tilson has decreased his fund’s holding of this stock by 6% during the third quarter of 2013. Nevertheless, T2 Partners continue to hold 451,764 shares valued at $3.76 million, a position which accounts for 5.9% of the fund’s equity portfolio.

Spark Networks Inc (NYSEMKT:LOV) offers online personals service. The company’s 2013 stock chart resembles a roller coaster, topping at $9.27 per share in May. Shares are currently trading at a price of $5.6, well below the start-of-the-year opening price of $7.76. The company has a market cap of $134 million and a beta of 0.11, which makes it a very stable one.

On November 13 the company reported third quarter financial report. For the three months ended September 30, 2013, Spark Networks posted revenues of $17.3 million, a 9.3% year-over-year increase, and a loss per diluted share of $o.11. For the current quarter, the company is expected to register revenues of $16.9 million and a loss per share of $0.15. Analysts are bullish on this stock, recommending it as a strong buy and having set a price target of $10 per share.

Disclosure: none

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