MeetMe Inc. (MEET) Trading 4.8% Higher
MeetMe Inc. (NASDAQ:MEET) shares traded up 4.8% on Monday . The company traded as high as $5.68 and last traded at $5.63, with a volume of 2,360,426 shares trading hands. The stock had previously closed at $5.37.
A number of research analysts have recently weighed in on the company. Northland Securities reaffirmed a “buy” rating on shares of MeetMe in a research report on Sunday, May 8th. Loop Capital assumed coverage on MeetMe in a research report on Thursday. They set a “buy” rating on the stock. Roth Capital lifted their price objective on MeetMe from $4.25 to $5.25 and gave the company a “buy” rating in a research report on Wednesday, June 1st. Zacks Investment Research cut MeetMe from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, JMP Securities reaffirmed a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. Seven investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $5.35.
The firm has a market cap of $292.33 million and a P/E ratio of 8.12. The stock’s 50 day moving average is $6.36 and its 200 day moving average is $4.28.
MeetMe (NASDAQ:MEET) last announced its 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 analyst estimates of $15.27 million. The company’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. On average, analysts forecast that MeetMe Inc. will post $0.37 earnings per share for the current fiscal year.
In other news, CEO Geoffrey Cook sold 100,000 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $4.13, for a total value of $413,000.00. Following the transaction, the chief executive officer now directly owns 1,386,719 shares of the company’s stock, valued at $5,727,149.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO William Alena sold 458,626 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were 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 in the company, 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 boosted its position in shares of 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 approximately 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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