MeetMe Inc. (MEET) Stock Price Down 1.7%
MeetMe Inc. (NASDAQ:MEET) dropped 1.7% on Tuesday . The stock traded as low as $6.35 and last traded at $6.41, with a volume of 904,746 shares. The stock had previously closed at $6.52.
MEET has been the topic of several recent research reports. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Friday, May 6th. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Roth Capital boosted their target price on MeetMe from $4.25 to $5.25 and gave the stock a “buy” rating in a report on Wednesday, June 1st. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $5.35.
The company has a market cap of $306.87 million and a price-to-earnings ratio of 42.87. The company has a 50 day moving average of $5.43 and a 200-day moving average of $3.77.
MeetMe (NASDAQ:MEET) last issued its earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company earned $13.30 million during the quarter, compared to analyst estimates of $12.80 million. The business’s revenue was up 14.7% on a year-over-year basis. On average, analysts anticipate that MeetMe Inc. will post $0.31 EPS for the current fiscal year.
In related news, CEO Geoffrey Cook sold 11,424 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $3.24, for a total transaction of $37,013.76. Following the completion of the sale, the chief executive officer now owns 1,581,200 shares of the company’s stock, valued at approximately $5,123,088. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonah H. Harris sold 20,833 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $3.41, for a total transaction of $71,040.53. Following the sale, the executive now directly 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 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 disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent 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.