The Meet Group (MEET) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of The Meet Group (NASDAQ:MEET) from a hold rating to a sell rating in a research report sent to investors on Thursday, March 15th.

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. “

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A number of other equities analysts have also recently commented on MEET. TheStreet cut shares of The Meet Group from a c+ rating to a d+ rating in a research note on Thursday, March 8th. Canaccord Genuity restated a hold rating and issued a $4.00 price target on shares of The Meet Group in a report on Tuesday, December 19th. ValuEngine lowered shares of The Meet Group from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, Roth Capital reduced their price objective on shares of The Meet Group from $4.00 to $3.25 and set a buy rating for the company in a research note on Thursday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The Meet Group currently has an average rating of Hold and a consensus price target of $5.05.

MEET traded up $0.02 during trading on Thursday, hitting $1.94. The company’s stock had a trading volume of 841,688 shares, compared to its average volume of 1,420,500. The company has a market capitalization of $138.32, a PE ratio of 6.26, a PEG ratio of 3.84 and a beta of 1.31. The Meet Group has a one year low of $1.84 and a one year high of $6.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22.

The Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, March 7th. The information services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The Meet Group had a negative net margin of 51.89% and a positive return on equity of 9.41%. The company had revenue of $40.20 million during the quarter, compared to analysts’ expectations of $38.18 million. During the same period last year, the company posted $0.19 earnings per share. The Meet Group’s quarterly revenue was up 37.7% on a year-over-year basis. equities analysts forecast that The Meet Group will post 0.03 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Luxor Capital Group LP raised its position in shares of The Meet Group by 100.0% in the fourth quarter. Luxor Capital Group LP now owns 3,079,481 shares of the information services provider’s stock valued at $8,684,000 after buying an additional 1,540,110 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of The Meet Group by 46.0% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 104,250 shares of the information services provider’s stock valued at $294,000 after purchasing an additional 32,870 shares during the period. Millennium Management LLC purchased a new stake in shares of The Meet Group in the fourth quarter valued at about $6,969,000. Deutsche Bank AG boosted its stake in The Meet Group by 92.5% during the fourth quarter. Deutsche Bank AG now owns 149,512 shares of the information services provider’s stock worth $420,000 after buying an additional 71,849 shares during the period. Finally, Globeflex Capital L P boosted its stake in The Meet Group by 39.7% during the fourth quarter. Globeflex Capital L P now owns 256,640 shares of the information services provider’s stock worth $724,000 after buying an additional 72,996 shares during the period. Institutional investors and hedge funds own 43.83% of the company’s stock.

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The 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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