MeetMe Inc. (MEET) Shares Up 3.3%
Shares of MeetMe Inc. (NASDAQ:MEET) shot up 3.3% during trading on Tuesday . The stock traded as high as $5.39 and last traded at $5.31, with a volume of 2,356,175 shares. The stock had previously closed at $5.14.
Several brokerages recently commented on MEET. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Roth Capital lifted their price objective on MeetMe from $4.25 to $5.25 and gave the stock a “buy” rating in a report on Wednesday, June 1st. Zacks Investment Research lowered MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $5.35.
The company has a market cap of $267.14 million and a P/E ratio of 7.42. The firm’s 50-day moving average is $6.40 and its 200-day moving average is $4.25.
MeetMe (NASDAQ:MEET) last posted its earnings results on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. The company had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.27 million. During the same quarter in the prior year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. Analysts anticipate that MeetMe Inc. will post $0.37 EPS for the current fiscal year.
In other 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 transaction of $1,892,309.13. Following the completion of the sale, the general counsel now owns 192,580 shares in the company, valued at approximately $1,373,095.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ernesto Cruz sold 137,500 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $4.80, for a total value of $660,000.00. Following the sale, the director now owns 52,367 shares of the company’s stock, valued at approximately $251,361.60. 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 shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent disclosure 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 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.
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.