MeetMe Inc. (MEET) Stock Price Up 2.8%
Shares of MeetMe Inc. (NASDAQ:MEET) rose 2.8% during mid-day trading on Wednesday . The company traded as high as $8.00 and last traded at $7.98, with a volume of 1,350,364 shares traded. The stock had previously closed at $7.76.
A number of equities analysts have weighed in on the stock. Northland Securities reiterated a “buy” rating on shares of MeetMe in a research report on Sunday, May 8th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Zacks Investment Research lowered shares of MeetMe from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Roth Capital reiterated a “buy” rating on shares of MeetMe in a research report on Wednesday, June 15th. Six equities research analysts have rated the stock with a buy rating, MeetMe presently has a consensus rating of “Buy” and a consensus price target of $5.35.
The company’s 50-day moving average price is $6.34 and its 200-day moving average price is $4.09. The stock has a market capitalization of $398.35 million and a P/E ratio of 11.06.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $15.27 million. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. Equities research analysts predict that MeetMe Inc. will post $0.37 EPS for the current fiscal year.
In related news, General Counsel Frederic Beckley sold 265,401 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $7.13, for a total value of $1,892,309.13. Following the completion of the transaction, the general counsel now owns 192,580 shares of the company’s stock, valued at $1,373,095.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonah H. Harris sold 20,833 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $3.41, for a total transaction of $71,040.53. Following the completion of the transaction, the executive now directly owns 178,763 shares of the company’s stock, valued at approximately $609,581.83. 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 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 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 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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