MeetMe Inc. (MEET) Trading Up 2.8%
MeetMe Inc. (NASDAQ:MEET)’s share price was up 2.8% on Wednesday . The company traded as high as $8.00 and last traded at $7.98, with a volume of 1,350,364 shares changing hands. The stock had previously closed at $7.76.
A number of equities analysts recently weighed in on MEET shares. Roth Capital reissued a “buy” rating on shares of MeetMe in a 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 report on Thursday, July 7th. JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Northland Securities reaffirmed 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 company presently has an average rating of “Buy” and a consensus price target of $5.35.
The company has a market cap of $418.81 million and a price-to-earnings ratio of 11.63. The company has a 50-day moving average price of $6.16 and a 200 day moving average price of $4.03.
MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. During the same period last year, the company 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% on a year-over-year basis. Equities analysts predict that MeetMe Inc. will post $0.35 earnings per share for the current fiscal year.
In other news, CRO William Alena sold 458,626 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total value of $3,242,485.82. Following the completion of the transaction, the executive now owns 255,805 shares of the company’s stock, valued at $1,808,541.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Frederic Beckley sold 9,360 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $3.41, for a total value of $31,917.60. Following the completion of the transaction, 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 raised its position in 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 (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 approximately 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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