MeetMe Inc. (NASDAQ:MEET) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 9,574,004 shares, a growth of 34.2% from the August 31st total of 7,131,993 shares. Currently, 19.2% of the company’s shares are short sold. Based on an average trading volume of 3,604,796 shares, the days-to-cover ratio is presently 2.7 days.
MEET has been the subject of a number of analyst reports. Loop Capital initiated coverage on MeetMe in a research report on Thursday, August 25th. They set a “buy” rating for the company. Roth Capital restated a “buy” rating on shares of MeetMe in a research report on Wednesday, June 15th. Zacks Investment Research upgraded MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Thursday, July 7th. Finally, JMP Securities reiterated a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Seven analysts have rated the stock with a buy rating, MeetMe has a consensus rating of “Buy” and a consensus price target of $6.00.
Shares of MeetMe (NASDAQ:MEET) opened at 5.61 on Wednesday. The company has a market capitalization of $294.43 million, a P/E ratio of 8.18 and a beta of 1.62. The firm has a 50-day moving average price of $5.68 and a 200-day moving average price of $4.82. MeetMe has a one year low of $1.77 and a one year high of $8.11.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. The firm earned $16.40 million during the quarter, compared to analysts’ expectations of $15.27 million. During the same period in the prior year, the business earned $0.05 EPS. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. Equities analysts forecast that MeetMe will post $0.42 earnings per share for the current year.
In other news, CRO William Alena sold 458,626 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive now directly owns 255,805 shares in the company, valued at $1,808,541.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer Garrett Rhodes sold 70,182 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.35, for a total value of $515,837.70. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at $273,015.75. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management Inc. boosted its position in MeetMe by 0.7% in the second quarter. Bridgeway Capital Management Inc. now owns 77,331 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in MeetMe by 3.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 119,500 shares of the company’s stock worth $339,000 after buying an additional 4,400 shares during the last quarter. Acrospire Investment Management LLC boosted its position in MeetMe by 21.0% in the second quarter. Acrospire Investment Management LLC now owns 34,852 shares of the company’s stock worth $186,000 after buying an additional 6,055 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in MeetMe by 125.9% in the second quarter. Tower Research Capital LLC TRC now owns 22,183 shares of the company’s stock worth $118,000 after buying an additional 12,361 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in MeetMe during the second quarter worth about $109,000. Hedge funds and other institutional investors own 46.42% of the company’s stock.
MeetMe Company Profile
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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