MeetMe Inc. (MEET) Shares Up 3.2%
MeetMe Inc. (NASDAQ:MEET) shot up 3.2% during mid-day trading on Monday . The stock traded as high as $6.63 and last traded at $6.48, with a volume of 1,080,317 shares trading hands. The stock had previously closed at $6.28.
Several research firms have recently issued reports on MEET. Zacks Investment Research raised 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, 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 equities research analysts have rated the stock with a buy rating, MeetMe has a consensus rating of “Buy” and a consensus target price of $5.35.
The firm has a 50 day moving average of $5.43 and a 200 day moving average of $3.77. The firm has a market cap of $306.39 million and a PE ratio of 42.80.
MeetMe (NASDAQ:MEET) last announced its quarterly 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 business earned $13.30 million during the quarter, compared to analysts’ expectations of $12.80 million. The business’s revenue was up 14.7% on a year-over-year basis. Analysts anticipate that MeetMe Inc. will post $0.31 EPS for the current year.
In other MeetMe news, CEO Geoffrey Cook sold 11,424 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was 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 directly owns 1,581,200 shares in the company, valued at approximately $5,123,088. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Frederic Beckley sold 9,360 shares of the business’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 $31,917.60. Following the sale, the general counsel now owns 155,080 shares of the company’s stock, valued at $528,822.80. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MeetMe stock. Dimensional Fund Advisors LP boosted its stake in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent disclosure 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 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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