Other equities analysts also recently issued research reports about the company. Roth Capital restated a buy rating on shares of MeetMe in a research note on Saturday, October 1st. Zacks Investment Research upgraded MeetMe from a hold rating to a buy rating and set a $6.50 target price on the stock in a research note on Thursday, July 7th. Finally, JMP Securities restated a buy rating on shares of MeetMe in a research note on Tuesday, June 28th. Seven research analysts have rated the stock with a buy rating, MeetMe has an average rating of Buy and an average target price of $6.50.
MeetMe (NASDAQ:MEET) opened at 5.78 on Wednesday. MeetMe has a 1-year low of $1.94 and a 1-year high of $8.11. The firm’s 50-day moving average price is $5.75 and its 200-day moving average price is $4.90. The company has a market cap of $303.35 million, a price-to-earnings ratio of 8.43 and a beta of 1.62.
MeetMe (NASDAQ:MEET) last announced its earnings results on Monday, August 1st. The company reported $0.09 earnings per share 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 had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.27 million. During the same quarter in the previous year, the business earned $0.05 EPS. The company’s revenue was up 47.8% compared to the same quarter last year. Equities research analysts forecast that MeetMe will post $0.43 EPS for the current fiscal year.
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 stock was sold at an average price of $7.13, for a total value of $1,892,309.13. Following the transaction, the general counsel now owns 192,580 shares in the company, valued at $1,373,095.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ernesto Cruz sold 137,500 shares of the company’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 completion of the transaction, the director now owns 52,367 shares in the company, valued at approximately $251,361.60. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in MeetMe during the second quarter valued at approximately $109,000. Tower Research Capital LLC TRC boosted its stake in shares of 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. State Street Corp acquired a new stake in shares of MeetMe during the first quarter worth about $120,000. American International Group Inc. boosted its stake in shares of MeetMe by 11,780.5% in the second quarter. American International Group Inc. now owns 23,761 shares of the company’s stock worth $127,000 after buying an additional 23,561 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of MeetMe during the second quarter worth about $139,000. Institutional investors and hedge funds own 46.42% of the company’s stock.
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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