MeetMe Inc. (MEET) Stock Price Up 3.2%
MeetMe Inc. (NASDAQ:MEET) rose 3.2% during trading on Monday . The company traded as high as $6.63 and last traded at $6.48, with a volume of 1,080,317 shares trading hands. The stock had previously closed at $6.28.
MEET has been the topic of a number of analyst reports. Roth Capital reiterated a “buy” rating on shares of MeetMe in a research report on Wednesday, June 15th. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Thursday, July 7th. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $5.35.
The stock’s 50-day moving average price is $5.29 and its 200 day moving average price is $3.73. The firm has a market cap of $311.17 million and a P/E ratio of 43.47.
MeetMe (NASDAQ:MEET) last announced its earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The company earned $13.30 million during the quarter, compared to analyst estimates of $12.80 million. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts predict that MeetMe Inc. will post $0.31 earnings per share for the current fiscal year.
In other news, CEO Geoffrey Cook sold 11,424 shares of MeetMe stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $3.24, for a total value of $37,013.76. Following the sale, the chief executive officer now owns 1,581,200 shares in the company, valued at $5,123,088. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Frederic Beckley sold 9,360 shares of MeetMe stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $3.41, for a total transaction of $31,917.60. Following the completion of the sale, the general counsel now owns 155,080 shares in the company, valued at approximately $528,822.80. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 filing with the Securities and Exchange Commission (SEC). 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 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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