MeetMe Inc. (MEET) Shares Up 5.4%
MeetMe Inc. (NASDAQ:MEET) shot up 5.4% during mid-day trading on Wednesday . The stock traded as high as $7.42 and last traded at $7.37, with a volume of 2,514,742 shares trading hands. The stock had previously closed at $6.99.
Several research firms recently issued reports on MEET. Roth Capital lifted their price objective on MeetMe from $4.25 to $5.25 and gave the company a “buy” rating in a research note on Wednesday, June 1st. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research note on Friday, May 6th. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Six analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $5.35.
The firm’s 50 day moving average price is $5.92 and its 200-day moving average price is $3.93. The stock has a market cap of $367.48 million and a price-to-earnings ratio of 10.6773.
MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The firm earned $16.40 million during the quarter, compared to analysts’ expectations of $15.27 million. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 EPS. Analysts forecast that MeetMe Inc. will post $0.32 EPS for the current fiscal year.
In other news, CRO William Alena sold 458,626 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the completion of the sale, the executive now owns 255,805 shares of the company’s stock, valued at $1,808,541.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Frederic Beckley sold 265,401 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.13, for a total transaction of $1,892,309.13. Following the sale, the general counsel now directly owns 192,580 shares of the company’s stock, valued at approximately $1,373,095.40. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in MeetMe stock. Dimensional Fund Advisors LP increased its position in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent reporting period.
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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