MeetMe Inc. (MEET) Stock Price Up 6%
MeetMe Inc. (NASDAQ:MEET) shares rose 6% on Wednesday . The stock traded as high as $5.62 and last traded at $5.32, with a volume of 8,331,367 shares. The stock had previously closed at $5.02.
MEET has been the topic of several recent analyst reports. Northland Securities reiterated a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Zacks Investment Research lowered MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Roth Capital reiterated a “buy” rating on shares of MeetMe in a report on Wednesday, June 15th. Six analysts have rated the stock with a buy rating, MeetMe presently has an average rating of “Buy” and a consensus price target of $5.35.
The stock has a market cap of $280.00 million and a P/E ratio of 7.777. The company’s 50 day moving average price is $6.46 and its 200 day moving average price is $4.17.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. During the same quarter in the previous year, the company posted $0.05 earnings per share. The firm earned $16.40 million during the quarter, compared to the consensus estimate of $15.27 million. The firm’s revenue was up 47.8% on a year-over-year basis. Equities research analysts anticipate that MeetMe Inc. will post $0.37 EPS for the current year.
In related news, General Counsel Frederic Beckley sold 265,401 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.13, for a total value of $1,892,309.13. Following the completion of the sale, the general counsel now directly owns 192,580 shares in the company, 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 William Alena sold 458,626 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,808,541.35. 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 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. The institutional investor 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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