MeetMe Inc. (MEET) Trading 6% Higher
MeetMe Inc. (NASDAQ:MEET) shares traded up 6% during mid-day trading on Wednesday . The company traded as high as $5.62 and last traded at $5.32, with a volume of 8,331,367 shares traded. The stock had previously closed at $5.02.
A number of analysts have recently commented on MEET shares. Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Roth Capital boosted their price objective on 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 downgraded MeetMe from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Six equities research analysts have rated the stock with a buy rating, MeetMe has an average rating of “Buy” and a consensus price target of $5.35.
The stock has a 50 day moving average price of $6.46 and a 200 day moving average price of $4.19. The company has a market cap of $272.39 million and a P/E ratio of 7.57.
MeetMe (NASDAQ:MEET) last issued its earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The company earned $16.40 million during the quarter, compared to analyst estimates of $15.27 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 47.8% on a year-over-year basis. On average, equities research analysts anticipate that MeetMe Inc. will post $0.37 EPS for the current fiscal year.
In other news, CEO Geoffrey Cook sold 50,000 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $3.24, for a total value of $162,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,561,200 shares of the company’s stock, valued at approximately $5,058,288. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO William Alena sold 458,626 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total value of $3,242,485.82. Following the completion of the transaction, the executive now directly owns 255,805 shares of the company’s stock, valued at $1,808,541.35. 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 disclosure with the 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 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.
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