According to Zacks, “MeetMe, Inc. owns and operates a social network. It enables users to meet new people through social games and apps, monetized by both advertising and virtual currency. The company operates MeetMe.com, Quepasa.com and MeetMe apps on iPhone and Android. MeetMe, Inc., formerly known as Quepasa Corporation, is headquartered in New Hope, Pennsylvania. “
Other equities research analysts also recently issued reports about the company. Loop Capital restated a buy rating and set a $9.00 price objective on shares of MeetMe in a report on Wednesday. Roth Capital restated a buy rating on shares of MeetMe in a report on Saturday, October 1st. Finally, JMP Securities restated a buy rating on shares of MeetMe in a report on Tuesday, June 28th. Seven research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $6.50.
MeetMe (NASDAQ:MEET) traded down 2.74% on Thursday, reaching $5.68. The company’s stock had a trading volume of 2,195,849 shares. MeetMe has a 52-week low of $1.81 and a 52-week high of $8.11. The firm has a 50-day moving average price of $5.72 and a 200 day moving average price of $4.83. The firm has a market capitalization of $298.10 million, a P/E ratio of 8.28 and a beta of 1.62.
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 the consensus estimate of $0.05 by $0.04. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. 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 business earned $0.05 EPS. MeetMe’s revenue for the quarter was up 47.8% compared to the same quarter last year. Equities analysts anticipate that MeetMe will post $0.43 earnings per share for the current fiscal year.
In related news, General Counsel Frederic Beckley sold 265,401 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $7.13, for a total transaction of $1,892,309.13. Following the completion of the transaction, the general counsel now owns 192,580 shares in the company, valued at approximately $1,373,095.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ernesto Cruz sold 137,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $4.80, for a total value of $660,000.00. Following the transaction, the director now owns 52,367 shares of the company’s stock, valued at approximately $251,361.60. The disclosure for this sale can be found here. 13.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management Inc. raised 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 in the last quarter. Jacobs Levy Equity Management Inc. raised 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 in the last quarter. Acrospire Investment Management LLC raised 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 in the last quarter. Tower Research Capital LLC TRC raised 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 in the last quarter. Finally, BlackRock Inc. bought a new position in MeetMe during the second quarter worth about $109,000. Institutional investors and hedge funds 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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