Spark Networks Insider Has Bought Up 10% Of Company In Past Month

A Spark Networks insider has this week become one of company’s biggest shareholders.

On Wednesday, shareholder Lloyd Miller acquired another 483 shares of the company, with a combined value of $1,883, at a share price of approximately $3.9.

And over the past 30 days, Miller has also bought 33,003 shares with a collective value of around $124,280.

With both of these investments, Miller now owns 2.66m shares in Spark Networks.

This equates to 10.29% of Spark Networks’ $100.2m market cap.

Other companies that own stock in the dating business include Osmium Partners – who forced a leadership change last year – who own 11.2% of Spark Networks with 3.38m shares.

T2 Partners Management owns 807,509 shares or 4.62% of the company, and Spruce House Investment Management Llc has 1.16% of the company.

In November, Spark Networks launched a revamp of their main properties, JDate and Christian Mingle.

And earlier this year, Spark Networks launched its first new product in years — a Tinder-style mobile dating app called Spark.

However in its latest financial report, the dating provider saw a 22% drop in its year-on-year revenue, attributing the loss to a reduction in average paying subscribers and ARPU for its Christian and Jewish sites.