The Meet Group, Inc. (MEET) Rating Lowered to Market Perform at JMP Securities

The Meet Group, Inc. (NASDAQ:MEET) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday. They currently have a $6.00 target price on the information services provider’s stock. JMP Securities’ price target suggests a potential upside of 162.01% from the stock’s current price.

Several other research firms have also commented on MEET. Roth Capital set a $9.00 price target on shares of The Meet Group and gave the company a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of The Meet Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of The Meet Group from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Canaccord Genuity lowered shares of The Meet Group from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.06.

Shares of The Meet Group (NASDAQ:MEET) traded down $0.05 during mid-day 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 firm has a market cap of $168.03, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.33 and a current ratio of 2.33. The Meet Group has a 52 week low of $2.26 and a 52 week high of $6.45.

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, beating the Thomson Reuters’ 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 business had revenue of $32.25 million during the quarter, compared to analyst estimates of $32.33 million. During the same period in the previous year, the business posted $0.10 EPS. The company’s quarterly revenue was up 87.6% on a year-over-year basis. equities research analysts predict that The Meet Group will post 0.29 earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of MEET. Sterling Investment Advisors Ltd. lifted its position in The Meet Group by 33.3% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 5,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in The Meet Group by 31.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 4,827 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in The Meet Group by 56.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock valued at $131,000 after purchasing an additional 9,383 shares during the last quarter. Voya Investment Management LLC lifted its position in The Meet Group by 50.0% in the 2nd quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 9,528 shares during the last quarter. Finally, American International Group Inc. lifted its position in The Meet Group by 7.1% in the 1st quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 1,683 shares during the last quarter. Hedge funds and other institutional investors 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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