MeetMe Inc. (MEET) Stock Price Up 2.8%
MeetMe Inc. (NASDAQ:MEET)’s share price rose 2.8% during mid-day trading on Wednesday . The company traded as high as $5.90 and last traded at $5.80, with a volume of 1,362,597 shares traded. The stock had previously closed at $5.64.
MEET has been the subject of a number of analyst reports. Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Friday, May 6th. Roth Capital reissued a “buy” rating on shares of MeetMe in a research note on Saturday, March 19th. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Six investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $5.35.
The stock has a market cap of $283.49 million and a price-to-earnings ratio of 39.60. The firm has a 50 day moving average price of $4.44 and a 200-day moving average price of $3.50.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The firm earned $13.30 million during the quarter, compared to analyst estimates of $12.80 million. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts expect that MeetMe Inc. will post $0.31 earnings per share for the current year.
In other MeetMe news, CEO Geoffrey Cook sold 100,000 shares of MeetMe stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $4.13, for a total value of $413,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,386,719 shares in the company, valued at $5,727,149.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Abbott sold 75,000 shares of MeetMe stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $4.85, for a total value of $363,750.00. Following the completion of the transaction, the director now owns 217,682 shares of the company’s stock, valued at $1,055,757.70. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in MeetMe stock. EAM Investors LLC bought a new position in shares of 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 about 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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