MeetMe Inc. (MEET) Shares Down 6.7%
MeetMe Inc. (NASDAQ:MEET)’s share price fell 6.7% on Tuesday . The company traded as low as $6.91 and last traded at $6.93, with a volume of 2,184,985 shares. The stock had previously closed at $7.43.
A number of brokerages recently weighed in on MEET. Roth Capital upped their target price on shares of MeetMe from $4.25 to $5.25 and gave the stock a “buy” rating in a research note on Wednesday, June 1st. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Friday, May 6th. JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $5.35.
The firm has a market capitalization of $333.60 million and a P/E ratio of 46.60. The company has a 50-day moving average price of $5.70 and a 200-day moving average price of $3.86.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.27 million. During the same period in the previous year, the business posted $0.05 EPS. MeetMe’s revenue was up 47.8% on a year-over-year basis. Analysts anticipate that MeetMe Inc. will post $0.31 earnings per share for the current year.
In related news, General Counsel Frederic Beckley sold 9,360 shares of MeetMe stock in a transaction on Monday, May 16th. The shares were sold at an average price of $3.41, for a total transaction of $31,917.60. Following the completion of the transaction, the general counsel now owns 155,080 shares of the company’s stock, valued at $528,822.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Geoffrey Cook sold 11,424 shares of MeetMe stock in a transaction 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 transaction, the chief executive officer now directly owns 1,581,200 shares of the company’s stock, 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 boosted its position in 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 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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