MeetMe Inc. (NASDAQ:MEET) has received an average recommendation of “Buy” from the seven analysts that are covering the firm. Seven analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.00.
A number of brokerages have commented on MEET. Roth Capital set a $8.50 target price on shares of MeetMe and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Thursday, July 7th. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Loop Capital assumed coverage on shares of MeetMe in a research note on Thursday, August 25th. They issued a “buy” rating on the stock.
In related news, General Counsel Frederic Beckley sold 265,401 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO William Alena sold 458,626 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the sale, 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. Corporate insiders own 13.70% of the company’s stock.
A number of large investors have recently made changes to their positions in MEET. BlackRock Fund Advisors increased its stake in shares of MeetMe by 1,052.2% in the second quarter. BlackRock Fund Advisors now owns 1,071,957 shares of the company’s stock valued at $5,714,000 after buying an additional 978,920 shares during the last quarter. State Street Corp increased its stake in shares of MeetMe by 1,933.9% in the second quarter. State Street Corp now owns 854,369 shares of the company’s stock valued at $4,553,000 after buying an additional 812,362 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of MeetMe during the second quarter valued at $3,931,000. Opus Capital Group LLC acquired a new stake in shares of MeetMe during the second quarter valued at $3,797,000. Finally, Boston Partners acquired a new stake in shares of MeetMe during the second quarter valued at $3,526,000. 46.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MeetMe (NASDAQ:MEET) opened at 5.81 on Wednesday. The stock has a 50 day moving average of $5.96 and a 200-day moving average of $4.64. The company has a market capitalization of $304.93 million, a PE ratio of 8.47 and a beta of 1.81. MeetMe has a 12-month low of $1.52 and a 12-month high of $8.11.
MeetMe (NASDAQ:MEET) last issued its earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. MeetMe had a net margin of 56.35% and a return on equity of 15.75%. The company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.27 million. During the same period in the previous year, the firm earned $0.05 earnings per share. MeetMe’s quarterly revenue was up 47.8% compared to the same quarter last year. Analysts predict that MeetMe will post $0.42 earnings per share for the current fiscal year.
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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