MeetMe Inc. (MEET) Stock Price Down 1.2%
MeetMe Inc. (NASDAQ:MEET) shares were down 1.2% on Friday . The stock traded as low as $5.81 and last traded at $5.81, with a volume of 1,162,338 shares traded. The stock had previously closed at $5.88.
Several research analysts have weighed in on MEET shares. Roth Capital reaffirmed a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Thursday. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $5.35.
The firm’s 50 day moving average is $4.51 and its 200 day moving average is $3.52. The stock has a market cap of $278.71 million and a PE ratio of 38.93.
MeetMe (NASDAQ:MEET) last issued its earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The firm had revenue of $13.30 million for the quarter, compared to analysts’ expectations of $12.80 million. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that MeetMe Inc. will post $0.31 EPS for the current year.
In other MeetMe news, CEO Geoffrey Cook sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $3.17, for a total value of $126,800.00. Following the completion of the transaction, the chief executive officer now owns 1,512,093 shares in the company, valued at approximately $4,793,334.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonah H. Harris sold 20,833 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $3.41, for a total value of $71,040.53. Following the completion of the transaction, the executive now owns 178,763 shares of the company’s stock, valued at approximately $609,581.83. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in MEET. EAM Investors LLC bought a new position in MeetMe during the fourth quarter worth $3,914,000. Oxford Asset Management bought a new position in MeetMe during the fourth quarter worth $3,347,000. Finally, Dimensional Fund Advisors LP boosted its position in MeetMe by 932.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 595,314 shares of the company’s stock worth $2,131,000 after buying an additional 537,645 shares in the last quarter.
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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