MeetMe Inc. (MEET) Stock Price Up 5.4%
MeetMe Inc. (NASDAQ:MEET) rose 5.4% during mid-day trading on Wednesday . The stock traded as high as $7.42 and last traded at $7.37, with a volume of 2,514,742 shares changing hands. The stock had previously closed at $6.99.
MEET has been the topic of several analyst reports. Roth Capital reissued a “buy” rating on shares of MeetMe in a report on Wednesday, June 15th. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Thursday, July 7th. JMP Securities reissued a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Finally, Northland Securities reissued a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Six equities research analysts have rated the stock with a buy rating, MeetMe presently has an average rating of “Buy” and an average price target of $5.35.
The stock has a market cap of $349.82 million and a price-to-earnings ratio of 48.87. The firm has a 50 day moving average of $5.77 and a 200-day moving average of $3.88.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.04. During the same period in the prior year, the business earned $0.05 EPS. The business had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.27 million. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. On average, equities research analysts expect that MeetMe Inc. will post $0.32 earnings per share for the current year.
In other MeetMe news, General Counsel Frederic Beckley sold 9,360 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was 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 of the company’s stock, valued at approximately $528,822.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Geoffrey Cook sold 11,424 shares of the firm’s stock in a transaction on 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 directly owns 1,581,200 shares of the company’s stock, valued at approximately $5,123,088. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MeetMe stock. Dimensional Fund Advisors LP raised 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 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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