MeetMe Inc. (MEET) Hits New 1-Year High at $5.64
MeetMe Inc. (NASDAQ:MEET) shares reached a new 52-week high on Tuesday . The company traded as high as $5.64 and last traded at $5.55, with a volume of 1,287,994 shares changing hands. The stock had previously closed at $5.48.
A number of research analysts have weighed in on MEET shares. Northland Securities reissued a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Friday, May 6th. Roth Capital reissued a “buy” rating on shares of MeetMe in a report on Saturday, March 19th. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $5.35.
The company has a market cap of $280.15 million and a PE ratio of 39.13. The company has a 50-day moving average of $4.36 and a 200-day moving average of $3.48.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The company earned $13.30 million during the quarter, compared to the consensus estimate of $12.80 million. MeetMe’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that MeetMe Inc. will post $0.31 EPS for the current fiscal year.
In related news, Director John Abbott sold 75,000 shares of the business’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $4.85, for a total transaction of $363,750.00. Following the transaction, the director now directly owns 217,682 shares in the company, valued at approximately $1,055,757.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Geoffrey Cook sold 40,000 shares of the business’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $3.17, for a total value of $126,800.00. Following the transaction, the chief executive officer now owns 1,512,093 shares in the company, valued at $4,793,334.81. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in MeetMe stock. EAM Investors LLC bought a new stake in MeetMe Inc. (NASDAQ:MEET) during the fourth quarter, Holdings Channel reports. The institutional investor bought 1,093,308 shares of the company’s stock, valued at approximately $3,914,000. EAM Investors LLC owned 2.40% of MeetMe as of its most recent SEC filing.
MeetMe, Inc is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The Company is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users.
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