MeetMe Inc. (MEET) Sets New 52-Week High at $6.20
MeetMe Inc. (NASDAQ:MEET) shares reached a new 52-week high during trading on Monday . The company traded as high as $6.20 and last traded at $6.15, with a volume of 1,526,577 shares trading hands. The stock had previously closed at $5.84.
A number of research analysts have recently commented on MEET shares. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research note on Friday, May 6th. Roth Capital reaffirmed a “buy” rating on shares of MeetMe in a research note on Saturday, March 19th. Finally, JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $5.35.
The firm has a market capitalization of $293.03 million and a PE ratio of 40.93. The stock has a 50 day moving average price of $4.51 and a 200-day moving average price of $3.52.
MeetMe (NASDAQ:MEET) last released its earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $13.30 million for the quarter, compared to analyst estimates of $12.80 million. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts expect that MeetMe Inc. will post $0.31 earnings per share for the current year.
In related news, CEO Geoffrey Cook sold 100,000 shares of the stock in a transaction 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 owns 1,386,719 shares in the company, valued at approximately $5,727,149.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Abbott sold 75,000 shares of the stock in a transaction 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 approximately $1,055,757.70. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in MeetMe by 932.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 595,314 shares of the company’s stock worth $2,131,000 after buying an additional 537,645 shares during the period. Oxford Asset Management bought a new position in MeetMe during the fourth quarter worth $3,347,000. Finally, EAM Investors LLC bought a new position in MeetMe during the fourth quarter worth $3,914,000.
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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