Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Meet Group from a hold rating to a buy rating and set a $3.00 price target on the stock in a research note on Friday, February 16th. Roth Capital decreased their price objective on shares of Meet Group from $4.00 to $3.25 and set a buy rating for the company in a research report on Thursday. ValuEngine downgraded shares of Meet Group from a buy rating to a hold rating in a research report on Sunday, December 31st. Canaccord Genuity reissued a hold rating and issued a $4.00 price objective on shares of Meet Group in a research report on Tuesday, December 19th. Finally, JMP Securities downgraded shares of Meet Group from an outperform rating to a market perform rating and set a $6.00 price objective for the company. in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Meet Group has a consensus rating of Hold and an average price target of $5.05.
Meet Group (MEET) opened at $2.46 on Thursday. Meet Group has a 52 week low of $2.19 and a 52 week high of $6.45. The stock has a market cap of $176.91, a P/E ratio of -2.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Luxor Capital Group LP boosted its holdings in shares of Meet Group by 100.0% during the 4th quarter. Luxor Capital Group LP now owns 3,079,481 shares of the information services provider’s stock worth $8,684,000 after buying an additional 1,540,110 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Meet Group by 46.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 104,250 shares of the information services provider’s stock worth $294,000 after purchasing an additional 32,870 shares in the last quarter. Millennium Management LLC acquired a new stake in Meet Group in the 4th quarter worth about $6,969,000. Deutsche Bank AG raised its stake in Meet Group by 92.5% in the 4th quarter. Deutsche Bank AG now owns 149,512 shares of the information services provider’s stock worth $420,000 after purchasing an additional 71,849 shares in the last quarter. Finally, Globeflex Capital L P raised its stake in Meet Group by 39.7% in the 4th quarter. Globeflex Capital L P now owns 256,640 shares of the information services provider’s stock worth $724,000 after purchasing an additional 72,996 shares in the last quarter. 44.03% of the stock is owned by institutional investors.
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Meet Group Company Profile
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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