Meet Group (NASDAQ:MEET) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, January 3rd.
According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “
Several other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Meet Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Canaccord Genuity restated a “hold” rating and issued a $4.00 price target on shares of Meet Group in a report on Tuesday, December 19th. JMP Securities cut shares of Meet Group from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a report on Thursday, November 9th. Finally, Roth Capital restated a “buy” rating and issued a $7.25 price target on shares of Meet Group in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.90.
Meet Group (MEET) traded up $0.13 during mid-day trading on Wednesday, reaching $2.90. 782,600 shares of the company traded hands, compared to its average volume of 647,875. Meet Group has a 52 week low of $2.19 and a 52 week high of $6.45. The stock has a market cap of $213.30, a P/E ratio of 14.50, a PEG ratio of 0.68 and a beta of 0.91.
Meet Group (NASDAQ:MEET) last issued its earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Meet Group had a net margin of 11.90% and a return on equity of 10.85%. The company had revenue of $32.25 million for the quarter, compared to analysts’ expectations of $32.33 million. During the same period in the prior year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 87.6% on a year-over-year basis. analysts expect that Meet Group will post 0.25 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in 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 worth $101,000 after purchasing an additional 4,827 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in 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 worth $131,000 after purchasing an additional 9,383 shares in the last quarter. Voya Investment Management LLC boosted its stake in 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 worth $144,000 after purchasing an additional 9,528 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Meet Group in the 2nd quarter worth approximately $203,000. Finally, First Trust Advisors LP acquired a new stake in Meet Group in the 3rd quarter worth approximately $206,000. Institutional investors own 50.85% of the company’s stock.
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About 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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