MeetMe Inc. (MEET) Reaches New 12-Month High at $7.84
MeetMe Inc. (NASDAQ:MEET) reached a new 52-week high during trading on Tuesday . The company traded as high as $7.84 and last traded at $7.81, with a volume of 1,725,175 shares traded. The stock had previously closed at $7.37.
A number of research firms have recently commented on MEET. Roth Capital raised their price target on 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 raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Friday, May 6th. JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Finally, Northland Securities reiterated a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Six investment analysts have rated the stock with a buy rating, MeetMe presently has an average rating of “Buy” and an average target price of $5.35.
The stock has a 50-day moving average price of $6.25 and a 200-day moving average price of $4.06. The stock has a market capitalization of $418.81 million and a price-to-earnings ratio of 11.63.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The company earned $16.40 million during the quarter, compared to the consensus estimate of $15.27 million. The company’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Analysts anticipate that MeetMe Inc. will post $0.35 EPS for the current year.
In other MeetMe news, Director Spencer Garrett Rhodes sold 70,182 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.35, for a total value of $515,837.70. Following the sale, the director now owns 37,145 shares in the company, valued at approximately $273,015.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO William Alena sold 458,626 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $7.07, for a total value of $3,242,485.82. Following the completion of the sale, the executive now owns 255,805 shares in the company, valued at approximately $1,808,541.35. The disclosure for this sale can be found here.
An institutional investor recently raised its position in MeetMe stock. Dimensional Fund Advisors LP increased its position in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent 13F 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 at the end of the most recent quarter.
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.