MeetMe Inc. (MEET) Shares Down 6.7%
MeetMe Inc. (NASDAQ:MEET) shares dropped 6.7% during trading on Tuesday . The company traded as low as $6.91 and last traded at $6.93, with a volume of 2,184,985 shares trading hands. The stock had previously closed at $7.43.
MEET has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Friday, May 6th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Roth Capital reiterated a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Finally, Northland Securities reiterated a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $5.35.
The firm has a market cap of $368.76 million and a PE ratio of 10.7144. The stock has a 50-day moving average of $5.85 and a 200-day moving average of $3.91.
MeetMe (NASDAQ:MEET) last posted its earnings results on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. During the same period in the previous year, the firm earned $0.05 EPS. The business earned $16.40 million during the quarter, compared to the consensus estimate of $15.27 million. The business’s revenue was up 47.8% compared to the same quarter last year. Equities research analysts forecast that MeetMe Inc. will post $0.32 EPS for the current year.
In other MeetMe news, General Counsel Frederic Beckley sold 9,360 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $3.41, for a total value of $31,917.60. Following the transaction, the general counsel now directly owns 155,080 shares in the company, valued at $528,822.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Abbott sold 75,000 shares of the business’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $4.85, for a total transaction of $363,750.00. Following the completion of the transaction, the director now owns 217,682 shares in the company, valued at $1,055,757.70. 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 position 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 fund 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 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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