MeetMe Inc. (MEET) Given Buy Rating at Loop Capital
A number of other equities research analysts have also commented on MEET. Roth Capital restated a buy rating on shares of MeetMe in a research report on Saturday, October 1st. JMP Securities restated a buy rating on shares of MeetMe in a research report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded MeetMe from a hold rating to a buy rating and set a $6.50 price target on the stock in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $6.50.
Shares of MeetMe (NASDAQ:MEET) traded up 0.34% during mid-day trading on Wednesday, reaching $5.92. The company’s stock had a trading volume of 460,368 shares. The firm has a market capitalization of $310.70 million, a P/E ratio of 8.63 and a beta of 1.62. MeetMe has a 12 month low of $1.77 and a 12 month high of $8.11. The company has a 50 day moving average of $5.70 and a 200-day moving average of $4.82.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The business had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.27 million. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. MeetMe’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. Equities research analysts forecast that MeetMe will post $0.42 EPS for the current year.
In other MeetMe news, Director Spencer Garrett Rhodes sold 70,182 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.35, for a total transaction of $515,837.70. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at approximately $273,015.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Frederic Beckley sold 265,401 shares of the company’s 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 transaction, the general counsel now directly owns 192,580 shares in the company, valued at approximately $1,373,095.40. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Keane Capital Partners LLC bought a new position in MeetMe during the first quarter worth $594,000. Jacobs Levy Equity Management Inc. increased its position in MeetMe by 3.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 119,500 shares of the company’s stock worth $339,000 after buying an additional 4,400 shares during the period. Harvest Capital Strategies LLC increased its position in MeetMe by 5.3% in the first quarter. Harvest Capital Strategies LLC now owns 4,000,000 shares of the company’s stock worth $11,360,000 after buying an additional 200,000 shares during the period. Harbourvest Partners LLC bought a new position in MeetMe during the first quarter worth $386,000. Finally, Renaissance Technologies LLC increased its position in MeetMe by 68.2% in the first quarter. Renaissance Technologies LLC now owns 455,567 shares of the company’s stock worth $1,294,000 after buying an additional 184,719 shares during the period. 46.42% of the stock is currently owned by institutional investors.
MeetMe Company Profile
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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