The Meet Group, Inc. (MEET) Downgraded to Hold at Canaccord Genuity

Canaccord Genuity downgraded shares of The Meet Group, Inc. (NASDAQ:MEET) from a buy rating to a hold rating in a report published on Thursday. They currently have $10.00 price target on the information services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of The Meet Group from a hold rating to a sell rating in a report on Thursday, August 10th. Roth Capital set a $8.00 price target on shares of The Meet Group and gave the stock a buy rating in a report on Wednesday, August 9th. BidaskClub cut shares of The Meet Group from a hold rating to a sell rating in a report on Wednesday, August 9th. Finally, JMP Securities lowered their price target on shares of The Meet Group from $8.00 to $6.00 and set a mkt outperform rating for the company in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $8.06.

The Meet Group (NASDAQ:MEET) traded down $0.05 during midday trading on Thursday, reaching $2.29. 3,964,000 shares of the company’s stock traded hands, compared to its average volume of 1,531,267. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. The Meet Group has a 12 month low of $2.26 and a 12 month high of $6.45. The firm has a market cap of $168.03, a PE ratio of 6.50, a PEG ratio of 0.41 and a beta of 1.05.

The Meet Group (NASDAQ:MEET) last posted its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The Meet Group had a net margin of 6.89% and a return on equity of 3.57%. The company had revenue of $32.25 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 87.6% on a year-over-year basis. sell-side analysts predict that The Meet Group will post 0.29 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of MEET. Dimensional Fund Advisors LP boosted its holdings in shares of The Meet Group by 22.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,884,568 shares of the information services provider’s stock valued at $29,717,000 after buying an additional 1,069,400 shares in the last quarter. Vanguard Group Inc. raised its position in The Meet Group by 24.3% in the 1st quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock valued at $14,831,000 after purchasing an additional 493,038 shares during the last quarter. Geode Capital Management LLC raised its position in The Meet Group by 60.8% in the 1st quarter. Geode Capital Management LLC now owns 1,088,207 shares of the information services provider’s stock valued at $6,408,000 after purchasing an additional 411,375 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in The Meet Group by 29.1% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,319,351 shares of the information services provider’s stock valued at $6,663,000 after purchasing an additional 297,510 shares during the last quarter. Finally, Northern Trust Corp raised its position in The Meet Group by 65.1% in the 2nd quarter. Northern Trust Corp now owns 743,795 shares of the information services provider’s stock valued at $3,756,000 after purchasing an additional 293,396 shares during the last quarter. Institutional investors and hedge funds own 56.52% of the company’s stock.

About The Meet Group

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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