Zacks Investment Research lowered shares of Meet Group (NASDAQ:MEET) from a buy rating to a hold rating in a research note published on Saturday morning.
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. “
MEET has been the subject of a number of other research reports. Canaccord Genuity reissued a hold rating and issued a $4.00 price objective on shares of Meet Group in a report on Tuesday, December 19th. Roth Capital reissued a buy rating and issued a $7.25 price objective on shares of Meet Group in a report on Wednesday, October 25th. JMP Securities downgraded shares of Meet Group from an outperform rating to a market perform rating and set a $6.00 price objective for the company. in a report on Thursday, November 9th. Finally, ValuEngine downgraded shares of Meet Group from a buy rating to a hold rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Meet Group has a consensus rating of Hold and a consensus target price of $5.85.
Shares of Meet Group (MEET) opened at $2.70 on Friday. The stock has a market cap of $193.88, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.07. Meet Group has a twelve month low of $2.19 and a twelve month high of $6.45.
Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Meet Group by 22.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,884,568 shares of the information services provider’s stock worth $29,717,000 after acquiring an additional 1,069,400 shares during the period. BlackRock Inc. lifted its holdings in shares of Meet Group by 0.7% during the 4th quarter. BlackRock Inc. now owns 4,092,641 shares of the information services provider’s stock worth $11,542,000 after acquiring an additional 27,956 shares during the period. Luxor Capital Group LP lifted its holdings in shares of Meet Group by 100.0% during the 4th quarter. Luxor Capital Group LP now owns 3,079,481 shares of the information services provider’s stock worth $8,684,000 after acquiring an additional 1,540,110 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Meet Group by 16.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,921,407 shares of the information services provider’s stock worth $14,754,000 after acquiring an additional 403,518 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Meet Group during the 4th quarter worth approximately $6,969,000. 45.41% of the stock is owned by institutional investors.
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Meet Group Company Profile
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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