MeetMe Inc. (MEET) Sees Strong Trading Volume
MeetMe Inc. (NASDAQ:MEET) saw strong trading volume on Tuesday . 16,901,492 shares were traded during trading, an increase of 337% from the previous session’s volume of 3,866,556 shares.The stock last traded at $4.96 and had previously closed at $6.15.
A number of equities analysts recently commented on the stock. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Roth Capital lifted their price target on shares of MeetMe from $4.25 to $5.25 and gave the stock a “buy” rating in a research note on Wednesday, June 1st. Zacks Investment Research cut shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $5.35.
The company has a market capitalization of $277.64 million and a P/E ratio of 7.71. The stock’s 50 day moving average is $6.47 and its 200-day moving average is $4.18.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. During the same period in the previous year, the business earned $0.05 earnings per share. The company had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.27 million. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. Equities analysts anticipate that MeetMe Inc. will post $0.37 earnings per share for the current year.
In other news, Director Spencer Garrett Rhodes sold 70,182 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $7.35, for a total value of $515,837.70. Following the completion of the sale, the director now directly owns 37,145 shares in the company, valued at $273,015.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Cook sold 50,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $3.24, for a total transaction of $162,000.00. Following the completion of the sale, the chief executive officer now owns 1,561,200 shares of the company’s stock, valued at $5,058,288. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MeetMe stock. Dimensional Fund Advisors LP boosted its stake in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent disclosure with the SEC. 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 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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