MeetMe Inc. (MEET) Reaches New 52-Week High at $6.20
MeetMe Inc. (NASDAQ:MEET) shares hit a new 52-week high on Monday . The stock traded as high as $6.20 and last traded at $6.15, with a volume of 1,526,577 shares traded. The stock had previously closed at $5.84.
MEET has been the topic of several analyst reports. Zacks Investment Research upgraded shares of MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Friday, May 6th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Roth Capital reiterated a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Finally, Northland Securities reiterated a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $5.35.
The firm’s 50-day moving average price is $4.69 and its 200-day moving average price is $3.57. The stock has a market cap of $296.37 million and a P/E ratio of 41.40.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $13.30 million for the quarter, compared to the consensus estimate of $12.80 million. The company’s revenue was up 14.7% on a year-over-year basis. 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 18,469 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $3.29, for a total transaction of $60,763.01. Following the transaction, the chief executive officer now owns 1,493,624 shares in the company, valued at approximately $4,914,022.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Abbott sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $4.85, for a total transaction of $363,750.00. Following the transaction, the director now owns 217,682 shares in the company, valued at approximately $1,055,757.70. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in MeetMe stock. EAM Investors LLC purchased a new position in shares of MeetMe Inc. (NASDAQ:MEET) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 filing with the SEC.
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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