MeetMe Inc. (MEET) Trading 2.8% Higher
Shares of MeetMe Inc. (NASDAQ:MEET) traded up 2.8% during trading on Wednesday . The stock traded as high as $5.90 and last traded at $5.80, with a volume of 1,362,597 shares changing hands. The stock had previously closed at $5.64.
Several analysts have commented on the company. Northland Securities reissued a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Roth Capital reissued a “buy” rating on shares of MeetMe in a report on Saturday, March 19th. Zacks Investment Research lowered MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $4.80.
The firm’s 50-day moving average is $4.29 and its 200-day moving average is $3.47. The stock has a market cap of $280.15 million and a price-to-earnings ratio of 39.13.
MeetMe (NASDAQ:MEET) last posted its earnings results on Thursday, May 5th. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm earned $13.30 million during the quarter, compared to analysts’ expectations of $12.80 million. MeetMe’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts expect that MeetMe Inc. will post $0.31 EPS for the current year.
In other news, Director John Abbott sold 75,000 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $4.85, for a total value of $363,750.00. Following the completion of the sale, the director now directly owns 217,682 shares of the company’s stock, valued at approximately $1,055,757.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David D. Clark sold 8,465 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $3.29, for a total value of $27,849.85. Following the sale, the chief financial officer now directly owns 168,676 shares of the company’s stock, valued at $554,944.04. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in MeetMe stock. EAM Investors LLC bought a new stake in MeetMe Inc. (NASDAQ:MEET) during the fourth quarter, Holdings Channel reports. The fund bought 1,093,308 shares of the company’s stock, valued at approximately $3,914,000. EAM Investors LLC owned about 2.40% of MeetMe 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.