MeetMe Inc. (MEET) Stock Price Up 4.8%
MeetMe Inc. (NASDAQ:MEET)’s share price rose 4.8% during mid-day trading on Monday . The stock 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.
MEET has been the topic of several research analyst reports. Northland Securities reissued a “buy” rating on shares of MeetMe in a research note on Sunday, May 8th. Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research note on Friday, May 6th. Loop Capital initiated coverage on MeetMe in a research note on Thursday, August 25th. They set a “buy” rating on the stock. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Roth Capital reissued a “buy” rating on shares of MeetMe in a research note on Wednesday, June 15th. Seven equities research analysts have rated the stock with a buy rating, MeetMe presently has a consensus rating of “Buy” and an average price target of $5.35.
The stock has a market cap of $292.75 million and a P/E ratio of 8.131. The firm has a 50 day moving average of $6.34 and a 200 day moving average of $4.34.
MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. The firm had revenue of $16.40 million for the quarter, compared to analysts’ expectations of $15.27 million. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. Equities analysts predict that MeetMe Inc. will post $0.37 EPS for the current year.
In other news, Director Ernesto Cruz sold 137,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $4.80, for a total value of $660,000.00. Following the completion of the sale, the director now directly owns 52,367 shares of the company’s stock, valued at approximately $251,361.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Geoffrey Cook sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $4.13, for a total value of $413,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,386,719 shares of the company’s stock, valued at $5,727,149.47. 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 stake in shares of MeetMe Inc. (NASDAQ:MEET) by 932.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 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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