MeetMe Inc. (MEET) Stock Price Down 3%
MeetMe Inc. (NASDAQ:MEET) fell 3% on Wednesday . The stock traded as low as $6.43 and last traded at $6.49, with a volume of 1,550,570 shares changing hands. The stock had previously closed at $6.69.
Several research firms have weighed in on MEET. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Roth Capital boosted their target price on shares of MeetMe from $4.25 to $5.25 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Zacks Investment Research downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $5.35.
The company has a 50 day moving average of $5.22 and a 200-day moving average of $3.71. The firm has a market capitalization of $301.62 million and a P/E ratio of 42.13.
MeetMe (NASDAQ:MEET) last released its earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $13.30 million for the quarter, compared to the consensus estimate of $12.80 million. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts anticipate that MeetMe Inc. will post $0.31 EPS for the current year.
In other MeetMe news, CEO Geoffrey Cook sold 11,424 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $3.24, for a total transaction of $37,013.76. Following the completion of the sale, the chief executive officer now owns 1,581,200 shares of the company’s stock, valued at approximately $5,123,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Frederic Beckley sold 9,360 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $3.41, for a total transaction of $31,917.60. Following the sale, the general counsel now directly owns 155,080 shares of the company’s stock, valued at approximately $528,822.80. The disclosure for this sale can be found here.
An institutional investor recently raised its position in MeetMe stock. Dimensional Fund Advisors LP boosted its stake in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent Form 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 approximately 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.