ClariVest Asset Management LLC increased its position in shares of MeetMe Inc. (NASDAQ:MEET) by 158.6% during the second quarter, Holdings Channel reports. The fund owned 384,512 shares of the company’s stock after buying an additional 235,826 shares during the period. ClariVest Asset Management LLC’s holdings in MeetMe were worth $2,048,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in MeetMe by 41.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 287,698 shares of the company’s stock worth $817,000 after buying an additional 84,509 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MeetMe by 5,244,088.9% in the first quarter. JPMorgan Chase & Co. now owns 471,977 shares of the company’s stock worth $1,340,000 after buying an additional 471,968 shares in the last quarter. Menta Capital LLC acquired a new position in MeetMe during the first quarter worth approximately $171,000. State Street Corp acquired a new position in MeetMe during the first quarter worth approximately $120,000. Finally, AXA boosted its position in MeetMe by 335.4% in the first quarter. AXA now owns 214,200 shares of the company’s stock worth $608,000 after buying an additional 165,000 shares in the last quarter. 46.42% of the stock is currently owned by hedge funds and other institutional investors.
MeetMe Inc. (NASDAQ:MEET) traded down 3.028% during mid-day trading on Tuesday, reaching $5.605. The company’s stock had a trading volume of 1,580,315 shares. The firm’s 50 day moving average is $5.75 and its 200-day moving average is $4.90. The company has a market cap of $294.17 million, a PE ratio of 8.171 and a beta of 1.62. MeetMe Inc. has a 12-month low of $1.94 and a 12-month high of $8.11.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The business had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.27 million. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. The company’s revenue was up 47.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 earnings per share. Equities analysts anticipate that MeetMe Inc. will post $0.43 earnings per share for the current fiscal year.
A number of research analysts recently commented on MEET shares. JMP Securities reissued a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Roth Capital set a $8.50 price target on MeetMe and gave the stock a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research cut MeetMe from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Finally, Loop Capital started coverage on MeetMe in a report on Thursday, August 25th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a buy rating, MeetMe has an average rating of “Buy” and an average price target of $6.50.
In related news, Director Ernesto Cruz sold 137,500 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.80, for a total transaction of $660,000.00. Following the sale, the director now directly owns 52,367 shares of the company’s stock, valued at $251,361.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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.
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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