MeetMe, Inc. (MEET) Given Buy Rating at Roth Capital

Roth Capital reissued their buy rating on shares of MeetMe, Inc. (NASDAQ:MEET) in a research note published on Wednesday. They currently have a $7.25 price objective on the information services provider’s stock.

A number of other analysts have also recently commented on MEET. BidaskClub cut shares of MeetMe from a buy rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research raised shares of MeetMe from a sell rating to a hold rating in a report on Wednesday, July 12th. Finally, JMP Securities reduced their target price on shares of MeetMe from $8.00 to $6.00 and set a mkt outperform rating for the company in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $8.06.

MeetMe (MEET) traded down 2.86% on Wednesday, reaching $3.40. 1,353,692 shares of the company were exchanged. The firm has a 50-day moving average of $3.69 and a 200 day moving average of $4.54. MeetMe has a 12-month low of $3.35 and a 12-month high of $6.45. The firm has a market capitalization of $244.11 million, a P/E ratio of 14.23 and a beta of 0.74.

MeetMe (NASDAQ:MEET) last issued its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $31.33 million for the quarter, compared to the consensus estimate of $30.70 million. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The firm’s revenue for the quarter was up 91.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts predict that MeetMe will post $0.42 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of MeetMe by 53.1% in the first quarter. Goldman Sachs Group Inc. now owns 594,240 shares of the information services provider’s stock worth $3,500,000 after purchasing an additional 206,126 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of MeetMe by 24.3% in the first quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock worth $14,831,000 after purchasing an additional 493,038 shares in the last quarter. American International Group Inc. increased its stake in shares of MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after purchasing an additional 1,683 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of MeetMe in the first quarter worth $513,000. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of MeetMe in the first quarter worth $1,118,000. 56.27% of the stock is owned by hedge funds and other institutional investors.

About MeetMe

The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.

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