MeetMe Inc. (MEET) Shares Up 3.3%
MeetMe Inc. (NASDAQ:MEET) was up 3.3% on Tuesday . The stock traded as high as $5.39 and last traded at $5.31, with a volume of 2,356,175 shares traded. The stock had previously closed at $5.14.
MEET has been the topic of a number of research reports. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Thursday, July 7th. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Roth Capital reissued a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Finally, Northland Securities reissued 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, MeetMe currently has a consensus rating of “Buy” and an average price target of $5.35.
The stock has a market capitalization of $277.64 million and a PE ratio of 7.71. The company has a 50-day moving average price of $6.44 and a 200 day moving average price of $4.23.
MeetMe (NASDAQ:MEET) last issued its 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. The business earned $16.40 million during the quarter, compared to analysts’ expectations of $15.27 million. The business’s revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. Analysts expect that MeetMe Inc. will post $0.37 EPS for the current year.
In other news, General Counsel Frederic Beckley sold 265,401 shares of the firm’s 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 transaction, the general counsel now directly owns 192,580 shares in the company, valued at approximately $1,373,095.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO William Alena sold 458,626 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the completion of the transaction, the executive now owns 255,805 shares in the company, valued at $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 raised its stake in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent 13F filing 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 about 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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