MeetMe Inc. (MEET) Sees Strong Trading Volume
Shares of MeetMe Inc. (NASDAQ:MEET) saw unusually-strong trading volume on Wednesday . Approximately 2,213,556 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 2,425,548 shares.The stock last traded at $6.08 and had previously closed at $6.21.
Several equities analysts recently weighed in on MEET shares. JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research report on Sunday, May 8th. Zacks Investment Research cut shares of MeetMe from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Roth Capital reaffirmed a “buy” rating on shares of MeetMe in a research report on Saturday, March 19th. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $5.35.
The stock has a market capitalization of $288.74 million and a PE ratio of 40.33. The company’s 50 day moving average is $4.77 and its 200-day moving average is $3.59.
MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm earned $13.30 million during the quarter, compared to analysts’ expectations of $12.80 million. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts forecast that MeetMe Inc. will post $0.31 earnings per share for the current year.
In related news, CFO David D. Clark sold 8,465 shares of the business’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $3.29, for a total transaction of $27,849.85. Following the transaction, the chief financial officer now owns 168,676 shares in the company, valued at $554,944.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Cook sold 18,469 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here.
An institutional investor recently raised its position in MeetMe stock. Dimensional Fund Advisors LP increased its stake in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 595,314 shares of the company’s stock after buying an additional 537,645 shares during the period. Dimensional Fund Advisors LP owned about 1.30% of MeetMe worth $2,131,000 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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