Shares of Meet Group Inc (NASDAQ:MEET) have earned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $5.08.
MEET has been the subject of several analyst reports. ValuEngine raised Meet Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. BidaskClub raised Meet Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Canaccord Genuity set a $6.00 target price on Meet Group and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, TheStreet raised Meet Group from a “d+” rating to a “c-” rating in a research report on Monday, August 27th.
Shares of NASDAQ MEET traded up $0.07 on Monday, hitting $4.56. The company had a trading volume of 1,225,322 shares, compared to its average volume of 1,054,127. Meet Group has a 12-month low of $1.84 and a 12-month high of $5.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $328.42 million, a price-to-earnings ratio of 14.71, a PEG ratio of 1.12 and a beta of 1.53.
In related news, major shareholder Luxor Capital Group, Lp bought 247,567 shares of the firm’s stock in a transaction dated Friday, October 5th. The stock was bought at an average price of $5.27 per share, with a total value of $1,304,678.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 1,419,548 shares of company stock valued at $6,395,000 in the last ninety days. Company insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Meet Group by 40.2% in the first quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after purchasing an additional 44,624 shares during the last quarter. Northern Trust Corp boosted its holdings in Meet Group by 3.6% in the first quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock valued at $1,552,000 after purchasing an additional 26,067 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 37,677 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Meet Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,998,792 shares of the information services provider’s stock valued at $12,537,000 after purchasing an additional 328,995 shares during the last quarter. Finally, Hartford Investment Management Co. purchased a new position in Meet Group in the second quarter valued at about $428,000. 51.67% of the stock is owned by institutional investors.
About Meet Group
The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.
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