MeetMe Inc. (MEET) Reaches New 1-Year High at $6.58
MeetMe Inc. (NASDAQ:MEET) hit 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.
MEET has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a report on Friday, May 6th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Roth Capital reiterated a “buy” rating on shares of MeetMe in a report on Wednesday, June 15th. Finally, Northland Securities reiterated a “buy” rating on shares of MeetMe in a report on Sunday, May 8th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $5.35.
The stock’s 50 day moving average price is $5.07 and its 200-day moving average price is $3.67. The company has a market capitalization of $319.28 million and a PE ratio of 44.60.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The company earned $13.30 million during the quarter, compared to analyst estimates of $12.80 million. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Analysts anticipate that MeetMe Inc. will post $0.31 EPS for the current year.
In other MeetMe news, General Counsel Frederic Beckley sold 9,360 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $3.41, for a total value of $31,917.60. Following the completion of the sale, the general counsel now directly owns 155,080 shares of the company’s stock, valued at approximately $528,822.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Abbott sold 85,000 shares of the company’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $4.64, for a total transaction of $394,400.00. Following the completion of the sale, the director now directly owns 142,682 shares of the company’s stock, valued at $662,044.48. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MeetMe stock. Dimensional Fund Advisors LP raised its position in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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.
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