MeetMe Inc. (MEET) Stock Price Up 4.6%
MeetMe Inc. (NASDAQ:MEET) rose 4.6% during mid-day trading on Friday . The stock traded as high as $6.43 and last traded at $6.35, with a volume of 1,377,244 shares traded. The stock had previously closed at $6.07.
Several research firms have recently weighed in on MEET. 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 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 equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $5.35.
The company has a market capitalization of $302.05 million and a PE ratio of 42.193. The company’s 50-day moving average is $4.84 and its 200 day moving average is $3.60.
MeetMe (NASDAQ:MEET) last issued its earnings results on Thursday, May 5th. The company reported $0.04 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 the consensus estimate of $12.80 million. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts predict that MeetMe Inc. will post $0.31 EPS for the current fiscal year.
In other MeetMe news, Director John Abbott sold 75,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 217,682 shares of the company’s stock, valued at approximately $1,055,757.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David D. Clark sold 8,465 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $3.29, for a total value of $27,849.85. Following the sale, the chief financial officer now directly owns 168,676 shares of the company’s stock, valued at $554,944.04. 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 position in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.
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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