MeetMe Inc. (MEET) Shares Up 4.6%
MeetMe Inc. (NASDAQ:MEET)’s share price shot up 4.6% during trading on Friday . The company traded as high as $6.43 and last traded at $6.35, with a volume of 1,377,244 shares changing hands. The stock had previously closed at $6.07.
A number of brokerages have commented on MEET. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a report on Thursday, July 7th. JMP Securities restated a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Roth Capital restated a “buy” rating on shares of MeetMe in a research report on Wednesday, June 15th. Finally, Northland Securities restated a “buy” rating on shares of MeetMe in a research report on Sunday, May 8th. Six research analysts have rated the stock with a buy rating, MeetMe has an average rating of “Buy” and an average price target of $5.35.
The firm has a 50-day moving average of $4.93 and a 200 day moving average of $3.63. The firm has a market capitalization of $302.58 million and a P/E ratio of 42.27.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The business earned $13.30 million during the quarter, compared to analysts’ expectations of $12.80 million. The firm’s revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that MeetMe Inc. will post $0.31 EPS for the current fiscal year.
In other news, Director John Abbott sold 85,000 shares of MeetMe stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $4.64, for a total transaction of $394,400.00. Following the completion of the sale, the director now directly owns 142,682 shares in the company, valued at approximately $662,044.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Jonah H. Harris sold 20,833 shares of MeetMe stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $3.41, for a total transaction of $71,040.53. Following the sale, the executive now owns 178,763 shares of the company’s stock, valued at $609,581.83. 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 shares of 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. The firm owned 595,314 shares of the company’s stock after buying an additional 537,645 shares during the period. Dimensional Fund Advisors LP owned 1.30% of MeetMe worth $2,131,000 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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