MeetMe Inc. (MEET) Sets New 12-Month High at $7.84
MeetMe Inc. (NASDAQ:MEET)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $7.84 and last traded at $7.81, with a volume of 1,725,175 shares. The stock had previously closed at $7.37.
MEET has been the topic of several research analyst reports. Northland Securities reiterated a “buy” rating on shares of MeetMe in a research report on Sunday, May 8th. JMP Securities restated a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Zacks Investment Research cut shares of MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Roth Capital restated a “buy” rating on shares of MeetMe in a report on Wednesday, June 15th. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $5.35.
The stock has a 50 day moving average price of $6.08 and a 200 day moving average price of $4.00. The firm has a market capitalization of $403.60 million and a PE ratio of 11.2101.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business earned $16.40 million during the quarter, compared to analyst estimates of $15.27 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 47.8% on a year-over-year basis. On average, equities analysts anticipate that MeetMe Inc. will post $0.32 EPS for the current fiscal year.
In other MeetMe news, CEO Geoffrey Cook sold 50,000 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $3.24, for a total value of $162,000.00. Following the sale, the chief executive officer now directly owns 1,561,200 shares in the company, valued at $5,058,288. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonah H. Harris sold 20,833 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $3.41, for a total transaction of $71,040.53. Following the completion of the sale, the executive now owns 178,763 shares in the company, valued at $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 boosted its stake in MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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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