MeetMe Inc. (MEET) Reaches New 52-Week High at $6.58
MeetMe Inc. (NASDAQ:MEET)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $6.58 and last traded at $6.55, with a volume of 1,264,473 shares. The stock had previously closed at $6.34.
A number of research firms have commented on MEET. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Thursday, July 7th. JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Roth Capital reaffirmed a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Finally, Northland Securities reaffirmed 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 stock currently has an average rating of “Buy” and a consensus target price of $5.35.
The firm’s 50 day moving average is $4.93 and its 200 day moving average is $3.63. The stock has a market capitalization of $313.79 million and a price-to-earnings ratio of 43.833.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $13.30 million for the quarter, compared to analyst estimates of $12.80 million. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities analysts expect that MeetMe Inc. will post $0.31 earnings per share for the current fiscal year.
In other MeetMe news, Director John Abbott sold 75,000 shares of MeetMe stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $4.85, for a total transaction of $363,750.00. Following the transaction, the director now owns 217,682 shares of the company’s stock, valued at $1,055,757.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Geoffrey Cook sold 11,424 shares of MeetMe stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $3.24, for a total value of $37,013.76. Following the transaction, the chief executive officer now directly owns 1,581,200 shares in the company, valued at approximately $5,123,088. The disclosure for this sale can be found here.
An institutional investor recently raised its position in MeetMe stock. Dimensional Fund Advisors LP increased its position in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 SEC filing.
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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